GREYKITE’s European Real Estate Fund I and new German partner troveinvest have secured a strategic acquisition of two industrial properties in Frankfurt and Düsseldorf, marking Lagerhome’s entry into Germany. This portfolio expansion sees Lagerhome’s total assets valued at approximately?€275?m, spanning investments in Sweden, the UK and now Germany.
Constructed in the mid-1980s, the 48,000?m² multi-let industrial portfolio is 93?% occupied with over 30 quality tenants and an average WAULT of 3.1?years. Acquired off-market from a private owner, its airport-adjacent locations benefit from limited supply and strong demand, ideal conditions for active value-enhancement through leasing and capex.
“Expanding the Lagerhome platform into Germany, one of Europe’s largest and most liquid MLI markets, is a strategic step for our portfolio construction,” said Michael Abel, Founder and CEO of GREYKITE. “In addition, the anticipated?€900?bn earmarked for defence and infrastructure spend over the next three years is set to drive significant demand for industrial space.”
Dan Valenzano, Senior Partner at GREYKITE, added “This was a rare opportunity to acquire two high-quality industrial properties… we look forward to making further acquisitions in Germany’s most established and desirable industrial sub-markets, where there remains a critical undersupply of modern space.”
Managing Partners Ulf Christiansen and Daniel Rubinstein of troveinvest emphasised that Germany is a core market for the platform’s next phase. “We are excited… and look forward to scaling the Lagerhome platform across key MLI regions in the country.”
Investor note: This deal serves as a case study in supply-constrained industrial markets. Developers and capital allocators should consider opportunities to co-invest or partner on asset-upgrade capex, flexible leasing strategies, and further roll-out in strategically chosen sub-markets.
People mentioned:
Michael Abel – Founder & CEO, GREYKITE
Dan Valenzano – Senior Partner, GREYKITE
Ulf Christiansen – Managing Partner, troveinvest
Daniel Rubinstein – Managing Partner, troveinvest
Companies mentioned:
GREYKITE European Real Estate Fund I – Investment firm managing multi-let industrial platform Lagerhome
troveinvest – German real estate operating partner for Lagerhome expansion
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