Palmira Capital grows its presence in Germany

Palmira Capital grows its German real estate portfolio

Palmira Capital Partners has added several attractive properties in Rhineland-Palatinate, Hesse and Bavaria to the portfolio of Unternehmensimmobilien Club 2 (UIC 2). 


In Trier, Rhineland-Palatinate, the company acquired the ‘Wissenschaftspark’ (Science Park). The eight-property office park, with a total area of approximately 27,700m², is virtually fully let to over 80 tenants, including the University of Trier and the Federal Institute for Real Estate. The vendor of the property is a company in the Saarbrucken-based Munitor Group


In Kassel, northern Hesse, the Schmidtsche Schack/Arvos production property was acquired on a sale-and-lease-back deal. It is let for 15-years on a long-term basis. Providing around 18,900m² of lettable space, the property comprises office, warehouse and production space. It is the HQ of the over-100-year-old company, which is one of the world's leading manufacturers of heat transfer solutions. 


Finally, a multi-tenant commercial park was acquired in Puchheim, to the west of Munich, Bavaria. The "Ikaruspark", immediately adjoining the Munich motorway ring, provides some 14,500m² of office and storage space. It is almost fully let to over 30 occupiers in a range of sectors. The vendor is a property company owned by S Immo AG.


The parties have agreed not to disclose further details of the transactions, which were notarised in the third and fourth quarters of 2022. 

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