Specialist industrial investor Palmira Capital Partners and global investment giant TH Real Estate have acquired a logistics development in Ketsch, Germany, from Panattoni Europe.
The transaction volume was not disclosed. The property, which is also being developed by Panattoni, was acquired on behalf of the Investors' Club Fund German Logistics (ICF GLog).
Located some 20 kilometers south of Mannheim, it has already been rented out to 21sportsgroup under a long-term lease ahead of completion.
The Ketsch asset is the 13th acquisition for the ICF. Palmira Capital Partners and TH Real Estate have been mandated as asset managers.
The buyer was advised by Wirtschaftskanzlei GvW Graf von Westphalen, REAG GmbH Real Estate Advisory Group Germany and the advisory group WTS.
