Logistics property experts Hubert Reck and Marcus Blumenthal have joined forces with the owners of Palmira Capital Partners, to launch a development platform known as Palmira Development.
The company will focus on development and consulting services for industrial and logistics properties. The two real estate professionals will run the new company as equal managing partners. Palmira Development has offices in Frankfurt, Munich and Stuttgart.
Both Hubert Reck and Marcus Blumenthal have decades of experience in the field of industrial and logistics real estate and are proven experts in property development, investment and leasing. Hubert Reck worked for Colliers International Germany for over 20 years, most recently as head of Industrial & Logistics Stuttgart. Marcus Blumenthal has also been active for Colliers International for the past 16 years, holding the position of senior director Industrial & Logistics Investment.
The company will focus on the acquisition of greenfield sites of 25,000 m2 or more, and brownfield properties with 15,000 m2 or more of lettable area, either vacant or with short remaining leases. The company will also facilitate the implementation of value enhancement activities and extensions to existing properties in the Palmira Capital Partners portfolio.
Palmira Group is active throughout Europe in investment, fund, asset and property management, with over €2 bn of assets under management.
