Frasers Property Europe has successfully acquired a property portfolio from Tristan Capital Partners and its joint venture partner via the acquisition of 100% of the shares of the respective subject entities. The property portfolio consists of three institutional grade logistics warehouses in Austria. The portfolio comprises over 46,000m² of lettable area and has a weighted average lease expiry (WALE) of 4.0 years. The purchase price was not disclosed.
The properties show strong fundamentals; being at full occupancy and leased to international companies and underpin the key submarkets in Austria. Two of the properties are leased to renowned 3PL providers and are directly located on the grounds of the Vienna International Airport’s cargo zone. The third property located in Graz has an occupier base that is closely linked to the region’s automotive sector.
The acquisition further enhances Frasers Property’s exposure to core logistics properties in continental Europe. The company’s strategy is to continue acquiring and developing state-of-the-art logistics properties in its three core markets Germany, Austria and the Netherlands.
