Cromwell invests in German logistics property

Cromwell invests in German logistics property

Cromwell Property Group has completed the acquisition of a 30,577m² freehold logistics asset in Sangerhausen, Germany. Comprising 28,060m² of warehouse space, 2,315m² of office space and 182m² of other spaces on a site totalling 79,000m², the asset is fully let until 2024 to Euro Pool System International GmbH, a market leader in the field of reusable packaging in the European fresh food supply chain. Constructed in 2017 as a modern logistics facility, the asset could be repositioned to accommodate a multi-occupier strategy if required.

 

Located in Sangerhausen, a town in the central German region of Saxony-Anhalt, the site has an excellent connection to the German autobahn network, providing access to sizeable German cities such as Berlin to the north-east; Leipzig and Dresden to the east; Erfurt, Nuremberg and Munich to the South; and Kassel and Dortmund to the west.

 

Michael Bohde, Head of Germany at Cromwell Property Group, commented: “The Sangerhausen asset is the fourth light industrial / logistics asset that we’ve acquired in Germany on behalf of CEREIT this year. From an investor perspective, this is a highly attractive asset: leased to a market-leading occupier operating in a growth sector and located in a strategically important central location in Germany. We intend to further grow Assets under Management for CEREIT and other capital sources in Germany”.

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