Pan-European real estate investment manager Tristan Capital Partners has acquired two logistics warehouses in Germany from the Logis Fund for a total of €30 mln.
Pan-European real estate investment manager Tristan Capital Partners has acquired two logistics warehouses in Germany from the Logis Fund for a total of €30 mln.
The acquisition was made for Tristan's Curzon Capital Partners III core fund, which raised €420 mln from institutional investors in February last year.
The assets are located in Hamburg harbour and Überherrn in the Saarland, comprising a total of 46,621 m2 of warehouses and 4,071 m2 of offices. Courier firm DHL occupies the Hamburg harbour property, while global logistics provider Dachser leases the building at Überherrn, which lies close to France.
'Logistics is increasingly becoming a mainstream property sector asset class for institutional investors, due to its attractive rental income yields relative to other sectors,' said Cameron Spry, head of Investments for Tristan Capital. 'The supply/demand picture for the logistics market in Europe is also very positive, especially for top locations such as these, due to a dearth of development in the last few years.'
CBRE, Garbe Logistic and Taylor Wessing acted on the sale side while Alpha Industrial and Mayer Brown on the buy side.
Tristan invested about €650 mln in European real estate on behalf of its funds last year.
