Tristan Capital Partners’ opportunistic fund EPISO 5 has sold a prime logistics asset in North Rhine-Westphalia, Germany.
Consisting of around 20,000 m2 of high-quality logistics floorspace, the asset is fully let on a long-term lease to sole tenant, German appliances manufacturer Miele.
The transaction is the latest disposition from the Summit Group portfolio in Germany, purchased in June 2021.
At the time of the acquisition, the diversified portfolio comprised of a total of 630,812 m2, of which around 60% office space, 30% warehouse/industrial space and the remainder of retail parks and mixed-use assets.
Fabian Meinsen, managing director – Portfolio & Asset Management, at Tristan Capital Partners, said: ‘The sale of this specific asset undoubtedly reflects the current demand which exists in the German logistic market. The Summit portfolio which we acquired last year continues to perform strongly, allowing us to take on new opportunities and structure the platform in a way which maximises its potential.’
The disposition was led by Sonar Real Estate, acting as asset manager for EPISO 5, which was advised by BNP Paribas Real Estate and Clifford Chance.
Tristan Capital Partners’ real estate funds manage over €15 bn in total assets.
