Munich-based investor and asset manager Realogis Real Estate has acquired a 90,000 m2 logistics property in Leipzig, Germany, as part of an off-market deal with a value-add risk profile.

Munich-based investor and asset manager Realogis Real Estate has acquired a 90,000 m2 logistics property in Leipzig, Germany, as part of an off-market deal with a value-add risk profile.

Located on the BMW-Allee the property comprises 17,300 m2 of warehouse and office space as well as an extension area of over 40,000 m2. It was originally used by the vendor, Ferag Verfahrenstechnik, and was acquired untenanted.

The purchase price was not disclosed.

Realogis hopes to be able to re-let the building from the first quarter of 2016.

'We are currently examining various utilization concepts for 20,000 m2 of the extension area,' said Bodo Hollung, CEO of Realogis Real Estate.