Palmira Capital Partners (Palmira) has acquired a further property for the European Core Logistics Fund (ECLF). The seller is Prodelta Real Estate.
Financial details were not disclosed.
The acquisition is a cross dock logistics asset, of which the office component was completely renewed in 2019. The property is situated at Maxwellstraat 5 in Ede, the Netherlands.
The property is located at Business Park Frankeneng nearby the junction of the motorway A12 and A30. Situated on a plot of land measuring around 36,000 m2, the property comprises around 20,900 m2 warehouse space and 2,100 m2 office and social space. The property is fully let for approximately eighht years.
As a pan-European fund, the ECLF is aimed at institutional investors and is targeting an equity volume of at least €350 mln.
In total, investments of approximately €650 mln are possible. Palmira had previously acquired six properties for the fund in 2021 (Linz, Austria; Lodz & Gliwice, Poland; Norderstedt & Ottmarsheim, Germany; and Dronten, The Netherlands).
Palmira is supported in the transaction in legal and tax matters by Dentons. Drees & Sommer provided advice on technical details, Nova Ambiente was responsible for environmental issues and ESG monitoring. QGM Law has acted as notary on this transaction.
Prodelta Real Estate was supported by Loyens & Loeff and 1530 Real Estate.
