PATRIZIA invests €130 million in French and German logistics
PATRIZIA Immobilien AG announces that its pan-European logistics fund, PATRIZIA Logistik-Invest Europe I, has acquired seven logistics properties across France and Germany for €130 million, further increasing its commitment to the sector. “These logistics properties continue to reflect the interest of our Fund to acquire modern conventional and e-commerce logistics buildings with a blend of customers such as 3PL’s, ecommerce retailers, retailers and light manufacturers, who are continue to reconfigure their networks to satisfy the high demand and need of speed to market” explains Roger Peters, Managing Director PATRIZIA Logistics Team.
PATRIZIA has reached an agreement with an international fund manager on the acquisition of four newly developed properties in Germany; Hanover, Bremen, Karlsruhe and Frankfurt am Main. The four assets, totalling approximately 75,000 sq m, were developed in partnership with Panattoni Germany.
In a separate transaction, PATRIZIA acquired a portfolio of three properties from Montea, with assets located in Paris, Orleans, and Cambrai (Nord Pas de Calais) with a combined lettable area of 102,000 sqm.
PATRIZIA Logistics now has €220 million of assets under management in Europe on behalf of its Fund investors. “PATRIZIA recently increased its commitment to European logistics following growing levels of institutional investors participating and ongoing demand in PATRIZIA Logistik-Invest Europe I. We highly appreciate the confidence our investors have in our logistics fund and we generally experience a continuation of their interest and appetite for the section at such a level that allows us further deployment of capital in our identified pipeline to reach our initial targeting total investment volume of approx. €500 million”, explains Arthur Tielens, Managing Director of PATRIZIA Logistics Team.