Palmira has purchased an as-new logistics property in Graz/Styria for the Palmira European Core Logistics special AIF Fund. Standing on a site of approximately 26,600m², the property provides a lettable area of 16,815m². It comprises around 14,830m² of logistics space, 1,245m² of offices and staff rooms and approximately 740m² of external and building services space.
The property situated in the Cargo Center Graz, Austria's most successful freight transport centre, close to the city of Graz and its airport. Its operating company has taken a long lease on the bi-modal (road/rail) site, which is occupied by logistics company BEXITY. Being so close to Graz Airport the property also offers the possibility of tri-modal (road/rail/air) operation.
For Palmira and its subsidiary Palmira Austria, this latest acquisition is another valuable addition to the assets already acquired in the Austrian portfolio. ECLF, which is a pan-European fund aimed at institutional investors, has a target equity capital volume of at least €350m.
