Aareal Asset Management Group has acquired the Airbus Logistics Centre in Hamburg-Hausbruch for the closed-end Aareal EuroLogistics Fund for approximately 22.5 million.
This facility was erected one year ago to handle all of the logistics activities related to the manufacture of the world's largest passenger plane. Stute Verkehrs-GmbH, a wholly-owned Kühne + Nagel subsidiary, operates the German base for the just-in-time delivery of important structural components for the Airbus series. The building with lettable space of more than 24,000 square metres and the possibility for adding storage space by building an annexe of about 8,900 square metres, is located in the immediate vicinity of the access point to the A7 motorway.
Charles Pridgeon, Head of Aareal Asset Management stated: "The Airbus Centre is an outstanding investment property for our closed-end logistics real estate fund. The superb location, the high-quality property and excellent tenants, and the flexible use of this property were convincing arguments in favour of the purchase for our institutional investors, with whom we closely coordinate our investment decisions."
Source: Aareal Asset Management