TIAA Henderson Real Estate (TH Real Estate) and Palmira Capital Partners have acquired a logistics and distribution warehouse in the Erlangen-Höchstadt district of Bavaria in Germany.

TIAA Henderson Real Estate (TH Real Estate) and Palmira Capital Partners have acquired a logistics and distribution warehouse in the Erlangen-Höchstadt district of Bavaria in Germany.

The purchase price for Lekkerland Distribution Centre was not disclosed. The transaction was carried out on behalf of the German Logistics Fund (GLOF).

The property comprises 11,850 m2 of net lettable area and is fully leased to Lekkerland Deutschland, a wholesale supplier of snacks, beverages and tobacco goods.

The deal marks the thirteenth acquisition for GLOF, a partnership between TH Real Estate and Palmira Capital Partners, a specialist in logistics real estate which acts as investment adviser to the fund. The fund's target volume is between €375-400 mln.