Clarion Partners Europe has acquired a portfolio of five modern, institutional-quality logistics properties across Germany, totalling 251,793m2. The portfolio was acquired from funds managed by Blackstone. This acquisition takes Clarion Partners Europe’s total deployment since March this year to €428m.
The portfolio consists of five modern, Grade A logistics assets with strong ESG credentials: a 123,360m2 property in Huckelhoven, that has a DGNB Gold certification and is fully let to Rhenus; a 46,358m2 property in Waldlaubersheim, that is fully let to Pfenning Logistics; a 45,198m2 property in Hamm, that has a DGNB Gold certification and is fully let to Hellweg; a 21,818m2 property in Linsengericht, that has a DGNB Gold certification and is fully let to Rhenus; a 15,059m2 property in Schwabisch Gmund, that has a DGNB Gold certification and is fully let to Robert Bosch.
Thorben Schaefer, Director at Clarion Partners Europe, commented: “Offering direct access to key transportation hubs and major population centres, the portfolio offers an attractive mix of day-one income and the medium-term opportunity to leverage our deep asset management expertise and strong occupier relationships.”
Rory Buck, Managing Director, Clarion Partners Europe, added: “This German portfolio directly fits with our investment strategy of acquiring modern sustainable logistics assets in locations with barriers to new supply and strong existing tenant demand. We see core markets such as Germany as highly attractive due to the country's strong underlying property fundamentals. We continue to actively look for further opportunities across Europe which align with this strategy.”
Clarion Partners Europe was advised by Goodwin Procter, Drees & Sommer, and Deloitte.
Eastdil Secured acted as adviser to Blackstone.
