Tritax EuroBox has expanded its logistics portfolio in Germany with the acquisition of two assets for €60.3m.
The continental European logistics real estate firm said the assets, which are situated in the GVZ Freight Village of Bremen, have a combined gross internal area of 57,537sqm.
The first asset was built this year and is let to exclusively to Kieserling Spedition + Logistik on a ten-year lease. The second property, developed in 2013, is let to Kieserling Spedition + Logistik, THIMM Packaging Systems and Bremer Spirituosen, on shorter leases with the benefit of a third-party rental guarantee.
Nick Preston, fund manager of Tritax EuroBox, said: “Situated in Bremen, one of the strongest logistics locations in Germany, these two modern, high specification facilities provide attractive income with scope for reversionary income growth and identified value enhancement through asset management.”
The acquisition of these two assets adds further to the company’s logistics portfolio across continental Europe, which now totals €670m of which €212m is in Germany, Preston said.