Prologis, Inc., the leading owner, operator and developer of industrial real estate, announces that it has acquired two logistics facilities in the core German logistics market of Northrhine-Westfalia.
The properties, which are located in Duisburg and Düsseldorf, cover a total of more than 41,000 m² and are fully leased.
"Both acquisitions are excellent additions to the existing Prologis portfolio in Germany," says Philip Dunne, President of Prologis Europe.
"Rhine-Ruhr is one of Europe's most important economic and logistics regions. We are taking advantage of this opportunity to further strengthen Prologis' position in the area."
The logistics facility in Duisburg's LogPort comprises approximately 27,100 m² of distribution and office space. Built in 2006, it was constructed to the highest quality standards and offers customers flexible distribution solutions and optimal transportation infrastructure.
The logistics facility in Düsseldorf covers approximately 13,970 m². The facility, constructed in 2007, was also built to modern standards and is close to the Düsseldorf airport and adjacent to another Prologis facility.
Prologis acquired the logistics facilities on behalf its co-investment venture, the European Logistics Venture 1. The seller, Dexus Fund Management Ltd, was assisted by DTZ and Linklaters. Prologis was advised by Hogan Lovells.