French asset manager Ofi Invest Real Estate, the real estate arm of Ofi Invest, has acquired a logistics property in Germany on behalf of clients.
Financial details were not disclosed.
Central One is a core logistics property located in Neuss, a city located west of Düsseldorf’s city border. The asset was sold by Oxenwood Real Estate, the UK and European real estate investment management firm.
Grégoire Bailly-Salins, head of transactions and business development Europe at Ofi Invest Real Estate said: 'We are pleased to announce the acquisition of this prime last-mile logistics facility strategically located close to Düsseldorf, one of the most established location for logistics in Europe.
'This acquisition is in line with our selective investment strategy, focusing on high-quality assets and locations, offering long-term and up-side potentials. Achieving this transaction in the current market environment showcases our ability to grasp market opportunities on the most resilient assets.'
The asset, completed in 2022, offers modern Grade A specifications over 12,000 m2 of lettable space and is awarded with a DGNB level Gold certificate.
It is fully let to a leading food retailer on a long-term basis and the property serves as a strategic hub for its online grocery distribution to the wider Düsseldorf area, ensuring efficient delivery to end users and supporting lastmile logistics operations.
The firm said that the investment was of strategic interest due to the Düsseldorf area being one of the most established logistics markets in Germany. The building also offers good growth potential in terms of rent, considering its high-quality spaces and its excellent location.
The property benefits from an excellent connection to public transportation and from a dense motorway network, giving access to the most important consumer market in Europe with 20.4 million inhabitants within 90 min driving time.
Stewart Little, CEO of Oxenwood Real Estate, said: 'This transaction underscores the enduring value of high-quality assets in prime locations. Neuss, as a key logistics hub, highlights the strength of the German market, where developing a well-located, modern asset with a strong tenant covenant provides secure liquidity for an exit.'
On this transaction, Ofi Invest Real Estate was advised by DLA Piper, CBRE technical due diligence team and Colliers International. Oxenwood/Catalina was advised by Jones Lang LaSalle and Jones Day and Arcadis.
