Palmira Capital Partners has made its first investment for the Palmira UIC 2 fund (Palmira Unternehmensimmobilien Club 2) in the form of a sale-and-leaseback transaction on a 10,400m² logistics property in Radebeul near Dresden. The asset, a corporate property, completed in 2006, occupies a site of around 17,500m² and provides a lettable area of approximately 7,800m² of storage and production space and 2,600m² of offices and staff rooms. The property is fully let on a 15-year lease.
Palmira UIC 2, which is aimed at institutional investors, has a target equity capital volume of around €250m and a total investment volume of around €450m is possible. To date, equity commitments of €150m have already been made. Half of the total has been subscribed by investors who had already participated in the predecessor fund Palmira UIC 1.
Palmira UIC2, the company's third corporate real estate fund, aims to establish a broadly diversified portfolio across regions and sectors. The focus is on commercial parks, small-scale office parks and production properties in Germany. The planned distribution yield is 6.25% p.a.
