Peakside Capital Advisors AG has acquired four assets with a combined 20,000m² of logistics, office and service space in the CargoCity Sad at Frankfurt Airport. The portfolio will become part of a Peakside Real Estate Fund. The parties agreed not to disclose the purchase price. The buildings include three mixed-use logistics assets with service, office, and mezzanine spaces as well as a parking deck with 420 spaces overall. Peakside plans to refurbish the assets as part of its manage-to-green strategy for existing buildings.
Simon Lutz, Partner at Peakside, said: “A dynamic leasing market makes logistics in Frankfurt an attractive proposition. Demand for flexible and modern spaces in the CargoCity Sud, Europe’s leading air freight hub, remains particularly high. Following the refurbishment, we will be able to offer different types of spaces for the demand on site.”
CargoCity Sud is the air freight hub on Frankfurt Airport grounds. The airport is Europe’s largest transfer site for air freight and amongst the top 10 hubs worldwide. Over 130 passenger and cargo airlines connect Frankfurt with more than 350 destinations around the globe. CargoCity Süd is excellently linked to the A3 and A5 motorways via the Frankfurter Kreuz, one of Europe’s largest and busiest motorway junctions.
Boris Schran, Managing Partner at Peakside, added: “With the acquisition, we are adding a prominent location with value-add and rental growth potential for our investors to the logistics portfolio. Logistics investments are playing a major role also in the acquisition strategy of our Peakside Real Estate Fund IV. We entered the investment phase last year and are looking for further investment opportunities in development as well as existing buildings at established logistics hubs for the discretionary fund.”
