Acting on behalf of its Luxembourg-based client Industrial Securities Europe (ISE), Berlin-based Priam Asset Management has made three German logistics acquisitions. The company has spent some EUR 30 mln on plots in Neunkirchen, Melle and Burglengfeld. The total area of the parcels is 105,000 m[sup]2[/sup].
Acting on behalf of its Luxembourg-based client Industrial Securities Europe (ISE), Berlin-based Priam Asset Management has made three German logistics acquisitions. The company has spent some EUR 30 mln on plots in Neunkirchen, Melle and Burglengfeld. The total area of the parcels is 105,000 m2.
The 13,805 Neunkirchen plot was acquired for approximately EUR 5.8 mln. The seller was advised by broker Co-Consult & Financial Services. In Melle a plot of 56,564 m2 with 25,487 m2 of lettable area and a logistics property measuring 22,000 m2 was acquired for EUR 16 mln. The logistics site is rented until 2011 to Kraftverkehr Nagel GmbH & Co. The 35,401 m2 Burglengenfeld parcel has 11,424 m2 of lettable area and cost over EUR 8.3 mln. Tenant L. Küblböck Baukeramik GmbH has a leasing contract which runs to 2022 with an option for extension. The seller was advised by the Munich branch of Kemper’s.
Priam Asset Management has been commissioned by ISE to carry out the property management for the three properties.
