Swiss Life Asset Managers’ Beos logistics subsidiary has acquired five logistics properties in Germany from Driven Investment in a deal said to be worth some €100 mln.
The portfolio, with a combined leasable area of 124,800 m2, was bought by two funds of Swiss Life Asset Managers in an off-market transaction.
‘We have continuously optimized and successfully stabilized our logistics portfolio since 2019 with active asset management through investments and leasing but also through an acquisition,’ said Togrul Gönden, managing director of Driven Investment.
In the past two years, the company was able to almost fully lease the completely vacant portfolio and now sell it with a weighted average remaining lease term of more than six years. In addition, 24/7 use permits were obtained in some cases and an expansion space was planned with one of the tenants.
The properties are located in Burgthann near Nuremberg (33,400 m2 of rental space), Emsbüren near the Dutch border (30,500 m2), Hildesheim (25,100 m2) and Oyten near Bremen (two properties with 30,900 m2 and 4,900 m2 respectively).
BNP Paribas Real Estate brokered the deal.
