Clarion Partners Europe acquired logistics facility in Dieburg, Germany, from Union Investment. The Hamburg-based investment manager held the property in the portfolio of one of its open-ended funds for ten years.
Completed in 2015, the fully generic property is leased to a subsidiary of Fiege Logistik Stiftung & Co. KG, the German 3PL provider. It serves as a key operations centre for tyre supplier Pirelli, with the capacity to store up to two million tyres at any given time. In line with Clarion Partners Europe’s commitment to owning real estate with the highest environmental and social credentials, the property is DNGB Platinum certified¹, featuring LED lighting and solar PV across the entire roof.
Dieburg is strategically located less than 30 minutes’ drive time south of Frankfurt, a major European logistics hub and primary focal point for the Rhine-Main metropolitan region, and Frankfurt Airport, the second largest freight terminal in the EU. It also benefits from excellent rail and arterial connectivity.
Thorben Schaefer, Senior Director at Clarion Partners Europe, commented: “This was a rare opportunity to acquire a highly sustainable, mission-critical asset, in a prime European logistics location. Benefitting from excellent transport connectivity and access to over 10 people million within a 100-km radius, it represents another excellent addition to our portfolio.”
Rory Buck, Managing Director, Clarion Partners Europe, added: “As wider market fundamentals improve heading into 2025, our deal execution track record and deep local market relationships will be increasingly key to maintaining our deployment momentum. The investment case for select German markets remains highly compelling, with a lack of new development and increasing bifurcation between sustainable and technologically-enabled space and everything else.”
Clarion Partners Europe was advised by Colliers (commercial), Goodwin Procter (legal) and CBRE (technical).
Written by Leon Goldwater for Europe Real Estate.
Image source - Pexels.
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