TH and Palmira acquire parcel centre in Germany

TH Real Estate, working with Palmira Capital Partners, has acquired a parcel distribution centre for its German Logistics Fund (GLOF).

The 8,000 m2 property, leased to logistics service provider ‘trans-o-flex’ until 2023, is located in Dettingen an der Iller, about 40 kilometres south of the southern German city of Ulm. The asset serves the triangle-shaped area between Stuttgart, Munich and the Swiss border.

The parcel centre was acquired from AXA Investment Managers. The parties agreed not to disclose the purchase price.