TIAA Henderson Real Estate (TH Real Estate) and Palmira Capital Partners have acquired another asset for their German Logistics Fund (GLOF).

TIAA Henderson Real Estate (TH Real Estate) and Palmira Capital Partners have acquired another asset for their German Logistics Fund (GLOF).

The 21,000 m2 logistics distribution centre was completed in 2012 by HR Logistik and is occupied by a food logistics operator on a long-term lease.

GLOF invests in core-plus logistic assets across well connected locations in Germany. The fund targets a total investment volume of €375 mln and an annual dividend yield of 8%. It is administered by IntReal Service-KAG.

Thorsten Kiel, fund manager of GLOF, TH Real Estate, said: 'The sound micro-environment at one of Germany's leading logistics clusters, along with its highly modern fit-out, are just two of this asset’s benefits which lend to an attractive risk-reward investment profile.'