Union Investment acquires German logistics facility

Union Investment acquires German logistics facility

Union Investment, acting on behalf of Unilmmo: Global fund, has acquired a logistics centre currently under construction and comprising 63,000 m² of rental space in Monsheim near Worms, in Rhineland-Palatinate. Completion of the property is scheduled for the end of 2018. The vendor and future user is pfenning logistics GmbH. The logistics service provider will initially lease the building for a period of 15 years. The purchase price was not disclosed.

 

The 63,000 m² of rental space in multicube rheinhessen consist of 55,000 m² devoted to logistics, approximately 7,000 m² of mezzanine space and 1,500 m² of offices. A clear ceiling height of 12 metres and above-average floor load capacity of six tonnes per m²  ensure that a wide range of logistics services can be carried out. Gold DGNB certification will be sought for the completed building.

 

“The logistics centre in Monsheim is being developed by pfenning logistics to a high specification, resulting in a correspondingly high level of construction quality. Our confidence in that quality is reflected in our early acquisition by way of forward funding,” said Alejandro Obermeyer, head of Investment Management DACH at Union Investment Real Estate GmbH. “In addition, the area is one of the most sought-after logistics locations in Germany and therefore provides excellent conditions for a long-term investment.”

 

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