Hamburg-based Values Real Estate has acquired a logistics complex in Neu-Ulm for its logistics real estate fund Values Logistikimmobilien Fonds.
Located at Dornierstrasse 16 and Albrecht-Berblinger-Strasse 8, the two single-tenant properties are fully leased to tenants.
German logistics company DHL uses a recently completed cross-dock property with over 3,500 square metres.
An existing 23,000 square metre logistics hall, directly on the adjacent plot, is leased to European mobile accessory wholesaler mpsmobile.
Sonja Ebeling, managing partner at Values Industrial GmbH, a subsidiary of the Values Real Estate group of companies, said: ‘This core/core plus property for our logistics real estate fund is an attractive investment. The very good location offers both short distances to Neu-Ulm city centre and to the supra-regional motorway network via the A8. Long rental contracts with tenants with strong credit ratings support the distribution yields in the fund."
The weighted average unexpired leas term (Wault) for both properties is over 15 years.
Values Real Estate was technically advised by TA Europe on the purchase and by Tauw GmbH on the subject of ESG, while legal due diligence on behalf of the buyer was carried out by McDermott Will & Emery.
Values Logistikimmobilien Fonds is an open-ended special Alternative Investment Fund, aimed at German professional and semi-professional investors, with a target fund volume of €400 mln.
The fund acquires logistics and light industrial properties in specific A and B prime locations at logistics hubs in regions with a distinct industrial cluster in Germany.
For its part, Values Real Estate is a German project development and investment company that invests together with private investors and institutional capital partners.
It focuses on commercial buildings and office properties in specific prime locations, logistics as well as medical centres and other social infrastructure properties.
Values Real Estate currently manages around €4 billion in assets.
