TIAA Henderson Real Estate and Palmira Capital Partners have acquired another asset for their German Logistics Fund (GLOF) (DE)

The asset consists of a 21,000 m² logistics distribution center that was completed in 2012 by HR Logistik GmbH & Co KG. It is occupied by a food logistics operator on a long-term lease. Located in the town of Oyten in Lower Saxony, directly on the border to Bremen, it benefits from a modern fit-out and superior transportation access due to the direct proximity of the motorway interchange to Bremen (A1/A27).
The Bremen metro area is one of Germany's traditional logistics regions. The efficient and flexible infrastructure, combined with rising demand from the retail and industrial sectors, and the long-term stability of the skilled labour pool, make the region an attractive location for logistics real estate.
GLOF invests in core-plus logistic assets across well connected locations in Germany that meet its high quality and long-term let-ability investment criteria. The Fund targets a total investment volume of approx. €375m and an annual dividend yield of 8%. It is administered via the platform of IntReal Service-KAG.
Thorsten Kiel, Fund Manager of GLOF, TH Real Estate, said: "The sound micro-environment at one of Germany's leading logistics clusters, along with its highly modern fit-out, are just two of this asset’s benefits which lend to an attractive risk-reward investment profile."
Source: TH Real Estate