German asset manager Values Real Estate has acquired a logistics building in Schlitz near the city of Fulda in Central Germany for its Values logistics real estate fund as part of a sale and leaseback transaction.
Financial details were not disclosed.
The property, Am Eichberg 1, is located near the A7 motorway and has a total rental area of 11,000 m2 on a gross area of 42,000 m2.
The seller and long-term tenant is lighting specialist Lampenwelt, part of the LUQOM Group, which built the building ensemble in two construction phases in 2012 and 2017 and is still the sole user of the property today.
A photovoltaic system on the roof supplies the building completely with tenant electricity.
Sonja Ebeling, managing partner of Values Industrial said: 'The property is very centrally located in Germany and is close to the A7 motorway on one of the top transport routes. The logistics hall has a high level of third-party usability.
'It meets the most modern standards and is multi-tenant capable. Solar-based power generation is not only interesting for the tenant, but also for our investors with regard to ESG criteria.
'In addition, because of the tenant’s strong connection to the property and the location, we can count on a secure cash flow.'
Values Real Estate was supported by EnviroSustain during the purchase, both technically and on the topic of ESG.
The purchase was brokered by Logivest Stuttgart. The legal due diligence on behalf of the buyer was carried out by Taylor Wessing. The seller was legally supported by Lupp + Partner.
