Commerz Real just acquired two logistics properties for one of its institutional funds.
The total amount invested by Commerz Real into these two logistics properties approximates 55 million. This brings the real estate assets of the institutional fund up to a total of approximately 430 million. The portfolio now includes 21 logistics properties, located in Germany, France, Italy and the Benelux countries.
The fully let BUT SA Logistics Center has a gross lettable area of 63,500 m². The building is let to the BUT International SA consumer electronics and household appliances retailer, which has been located in Mer for several years. The property was sold by SCI Concerto Logistics Park Mer, a member company of Group Affine. Colliers International advised Commerz Real during the transaction. Owing to the sturdy, high-end construction and the high quality of its fit-out, the property fully satisfies the contemporary standards expected by international tenants. For instance, the property could be subdivided into several rental areas, and it is equipped with hydraulic lifts and surface level ramps. The location comes with superior accessibility via the motorway, rail and Loire River waterway networks.
Also, Commerz Real acquired another logistics property, which is let long-term to Siemens, from the Heidelberg-based investor Harder & Partner.
The building, developed by Harder & Partner, covers 25,600 m² and is used by Siemens to store spare parts for gas turbines. Planning and realisation of the property took both the specific requirements of this tenant and general expectations in a sustainable and flexible commercial property into account.
The property is located in the 'Preussenpark' trading estate in Ludwigsfelde. This puts it squarely in the middle of the Berlin/ Brandenburg logistics region that the Fraunhofer Institute rated as "European Gateway" for the flow of goods of any kind.
"With this acquisition we continue to pursue the objective to expand the logistics commitment of Commerz Real," said Hand Joachim Kühl, Member of the Board of Commerz Real AG and responsible for real estate acquisitions.
"The sustained high demand for prime logistics real estate on the European real estate investment market confirms our investment strategy. At the moment, our logistics portfolio across funds totals a volume of approximately 700 million. Prime logistics assets with outstanding location qualities will remain an integral part of our investment strategy in the future."
Source: Commerz Real AG