German investor Union Investment Real Estate has acquired the Multicube Rhine-Neckar logistics development in the southern German municipality of Heddesheim for an undisclosed amount. The vendor was Phoenix 2010 GbR.
German investor Union Investment Real Estate has acquired the Multicube Rhine-Neckar logistics development in the southern German municipality of Heddesheim for an undisclosed amount. The vendor was Phoenix 2010 GbR.
The asset comprises a total area of 122,800 m2 and 225 parking places fully leased to pfenning Logistik, which provides storages services to companies in the automotive, chemical and food industries. The project has been pre-certified with a gold standard by the German green association DGNB. The project will be completed in December 2012.
Union Investment is contributing the property to its UniImmo: Europe open-ended real estate fund.
