Global real estate investment manager LaSalle Investment Management (LaSalle) has acquired the Plus logistics property in Bielefeld, Germany, for the French public service additional pension scheme (ERAFP) for an undisclosed amount. The vendor is Real I.S.
Completed in 2008 and expanded in 2011, the property comprises a total area of around 31,200 m2. It is divided into 27,200m2 of warehouse and handling space, with a total cross-docking capacity of 10,000 m2, as well as 4,000 m2 of office space.
Located in the east of Bielefeld, North Rhine-Westphalia, the warehouse is leased on a long-term basis to the transport and logistics company Kühne + Nagel.
Mathias Malzbender, fund director & head of separate accounts Continental Europe at LaSalle, commented: ‘We are delighted to have overseen the successful acquisition of this high-quality and well-situated property for our investor in a region which has experienced strong employment growth recently, as well as the significant development of this business park. ‘The Plus’ is perfectly aligned with the portfolio’s investment strategy and represents the high quality and reliability of this separate account to secure long-term and sustainable returns.’
