Immofinanz bundles €573m of logistics assets under new brand

Listed CEE investor Immofinanz has bundled its logistics holdings, totalling 1.1 million m2 of rental space, under the new umbrella brand, LOG.IQ.

The logistics portfolio is valued at €573 mln.

Immofinanz told PropertyEU it did not rule out the possibility of selling a single asset or the whole package should an investor make the right offer.

'As property sales are an integral part of our business model we never exclude the possibility of selling a single property or a portfolio, but have an opportunistic approach. It’s always a question of price and demand,' a Immofinanz spokesperson said.

The LOG.IQ brand stands for 'Logistics properties with IQ', properties which are flexible and can be adjusted to meet the market’s demands and customers‘ needs. The new brand covers Immofinanz's German assets owned by its Deutsche Lagerhaus (DLG) subsidiary and facilities in Eastern Europe that have until now operated under the LOG Center brand.

In total, the new LOG.IQ brand covers 59 logistics centres from the North Sea to the Black Sea. These properties will be rebranded during the coming months and receive the newly designed LOG.IQ appearance.

'Our strategic logistics business has been the focal point of steady expansion in recent years. With the bundling of these properties under a single brand, we will be able to position LOQ.IQ as a group-wide logistics competence centre and accompany the flow of goods by our customers with a total capacity of over 1.1 million square meters of rentable logistics space,' said Dietmar Reindl, chief operations officer at Vienna- and Warsaw-listed Immofinanz.

'In addition, our portfolio is currently under expansion with projects in Gelsenkirchen, Hamburg, Gross-Gerau and Poing (Germany) and also in Bucharest,' he said.

Immofinanz has been active in the logistics sector since 1991 and the 59-asset portfolio has a carrying value of €573 mln. Germany remains the most important logistics market with over 70% of the rentable space, followed by Hungary and Romania. The tenants include, among others, international companies like Dachser, Rhenus, Kraftverkehr Nagel, Kühne und Nagel, Fiege, DPD, Lila Logistik, Deutsche Post, UPS, DSV and Nestle.