Heitman LLC (“Heitman”), a global real estate investment management firm announced today the acquisition of a 8,000m² logistics facility in greater Munich on behalf of MEAG’s European Logistics Fund. This latest investment is in addition to Heitman’s late September closing of a 33,000m² logistics property in Bremen, Germany on behalf of the same investor.
The approximately 8,000m² property is located in the G Park 471 logistics complex in Olching, a city in the Munich Metropolitan area and is 100 percent leased to vanWylick GmbH. The facility was acquired directly from the developer, MP Holding and Isarkies, under a forward purchase agreement. The 33,000m² Bremen-based facility was acquired in a sale-leaseback transaction from logistics firm, Trans Service Team GmbH, which occupies 100 percent of the property. Trans Service Team completed a full renovation and significant expansion of the property in 2016.
Commented Gordon Black, Senior Managing Director for Heitman: “These two acquisitions further our objective of aggregating a portfolio of high quality, well leased logistics properties situated in Germany. These opportunities are situated in established locations along the path of goods movement, one of several criteria we view as important when investing in logistics facilities.”
Heitman has implemented various investment strategies in the European logistics sector including development and forward commitments across nine different European countries since 1998.
