European investor Patron Capital has joined forces with property company Inbright to acquire parts of an industrial site occupied by manufacturing business Mann+Hummel in Ludwigsburg, Germany.
The two partners plan to invest up to €180 mln to renovate the site, creating a modern research and development and light industrial campus.
DZ Hyp is involved as a financing partner.
The 550,000 sq ft (51,000 m2) site in Ludwigsburg’s Weststadt area. As part of the investors’ plans, around 75,000 m2 of total rental space will be created, with 32,000 m2 of new buildings.
Till Meister, Inbright’s senior project manager for the Ludwigsburg project, said: ‘The industrial campus we’re planning to create will meet considerable demand in this area. With a particular focus on ESG, the space here will offer maximum energy efficiency and flexibility, and will be constructed using sustainable methods.’
Christoph Ignaczak, senior partner at Patron Capital, said: ‘This major investment will contribute to the ongoing regeneration of Ludwigsburg’s Weststadt area, a vibrant location that is already undergoing significant changes. We’re pleased to partner with INBRIGHT on this deal and look forward to exploring further opportunities with them.’
