Munich-based Realogis Real Estate has acquired two newly developed logistics properties in the southern German state of Baden-Württemberg.
Munich-based Realogis Real Estate has acquired two newly developed logistics properties in the southern German state of Baden-Württemberg.
The investment volume was not disclosed but PropertyEU has established it was above €30 mln.
Realogis acquired the 31,500 m2 portfolio from logistics property specialist Habacker Holding.
The portfolio consists of two newly developed logistics facilities in Waiblingen near Stuttgart and Langenau near Ulm, both with long-term tenants.
'The properties fit perfectly with our investment strategy,' said Bodo Hollung MRCIS, managing director of Realogis Real Estate. 'With this portfolio as well as other purchases currently undergoing due diligence, we will probably invest a further €100 million this year.'
The companies signed the sales contract at the end of November and agreed not to disclose the sales price.
Habacker Holding acted as general contractor for both properties during the project development phase. The Düsseldorf-based property specialist completed the parcel-handling centre with around 5,000 m2 of warehouse, office and social space in Waiblingen near Stuttgart at the end of 2014.
Since the start of 2015 Deutsche Post DHL has been using the mechanical delivery point, which is located within an established industrial area to the west of Waiblingen. The letter distribution centre of Deutsche Post’s Stuttgart branch is located in the immediate vicinity. The building is built on a modular basis and can be flexibly adapted to the changing needs of the tenants.
The logistics centre built in Langenau to the northeast of Ulm in 2015 has a total area of 26,500 m2 with three warehouse sections including office and social areas. Tenants are Schäflein Logistics and BoschRexroth, which have been using the property since October.
As a specialist in the logistics real estate Realogis Real Estate establishes fonds for institutional investors. The Realogis Real Logistics Fund- Germany with a gross investment volume of €250 mln is focused on modern logistic buildings that have the potential to be utilized by third parties and that are located in established locations nationwide. It also invests in existing properties in good locations with a high potential for attracting long-term tenants.
The fund is also interested in acquiring assets early in their development phase as part of forward purchases or forward funding agreements.