BNP Paribas REIM, acting on behalf of its ELF fund (Eurozone Logistics Fund), managed by BNP Paribas REIM Luxembourg, has acquired a newly-built grade A warehouse located in the logistics park "Perfekter Standort", between Stuttgart and Karlsruhe, Germany. The asset has a net lettable area of c.15,200m² and is fully let to a global logistics service provider. The purchase price was not disclosed.
“This third acquisition for ELF strengthens the allocation of the Fund to Core markets in Eurozone. The portfolio is perfectly in line with the strategy, as it is composed of modern grade A logistics assets in established logistics location, including last mile logistics assets. Moreover, the properties are fully let to quality tenants, with an average lease duration of 6.5 years,” commented Lucas Despretz, Fund Advisor of the ELF fund.
