Logicenters continues to expand its activities and presence in Germany. Together with Oxenwood Real Estate, they acquired 46,000m2 on a short-term sale and lease back to build a 25,000m2 warehouse property near Dortmund, in the Ruhr area, Germany. The development is to be carried out through a joint venture with Oxenwood.
"We have reviewed the opportunity to strengthen our presence in Germany and are extremely pleased that we can now do so through our new collaboration with Oxenwood. This is the beginning of a long-term partnership where Logicenters sees great potential to make more acquisitions together in the future", said Matthias Kettelhoit, CEO at Logicenters. The companies plan for the property to be completed in 2026. This is the parties' first joint acquisition and the start of a long-term collaboration to develop a portfolio of modern warehouse properties across key German markets.
"Oxenwood is very pleased to establish a long-term partnership with Logicenters, whilst also acquiring our first project together. We look forward to working with Logicenters on this and other future opportunities in Germany," said Stewart Little, CEO of Oxenwood Real Estate LLP.
