The business division for real estate funds in the asset management of Deutsche Bank has purchased a logistics portfolio for approx. 108 million euros for its open-ended real estate fund grundbesitz europa from the Commerz Real open-ended real estate fund hausInvest.
The portfolio comprises “Celebi Luftfrachtbasis” in Cargo-City South at Frankfurt Airport, “Logicpark Airport” in Kelsterbach, which is also in the immediate vicinity of Frankfurt Airport, and the “Hermes HUB” not far from Hanover Airport in the city’s Langenhagen district with a total rental space of approx. 54,000m². The properties are fully-leased and are being sold in the framework of a bidding process.
“The values of the three properties have developed well as part of the hausInvest portfolio. Against the background of the strong demand on the part of investors for high-quality logistics real estate in the immediate vicinity of airports it was an excellent point in time for the fund to complete a sale,” said Robert Bambach, the board member of Commerz Real AG responsible for real estate transactions. “This does not at all mean, however, that hausInvest is withdrawing completely from the logistics sector. We are retaining our real estate in Harlow, England, and renewed investments in this segment so as to ensure the desired portfolio blend cannot be excluded.”
“These logistics properties are an excellent addition to the portfolio of our grundbesitz europa fund,” stated Georg Allendorf, European co-head alternatives & real assets, Asset Management Deutsche Bank.
