Patrizia acquires two German properties
Patrizia Immobilien purchased two German commercial properties of Warburg-HIH Invest with an undisclosed amount. Patrizia has € 14.5 billion office asset and a logistics portfolio of € 1.8 billion.
The company acquired the Portal 10 office building in Münster and a logistics facility in two separate deals in Krefeld. Patrizia is currently managing about € 40 billion in real estate.
The seven-storey, multi-tenant Portal 10 office property with 6,562sqm of space is fully let. The 59,000sqm logistics facility is leased on a long-term tenancy to Siemens.
Patrizia said the logistics asset was purchased for the Logistik-Invest Europa I fund (PLIE I), which is now fully invested. PLIE II, which plans to raise € 350 million, has so far reached 150m euros. The manager, PLIE II, the first take over in September, with a pipeline of € 130 million.
Philipp Schaper who is Patrizia’s head of European transactions said that “The low risk inherent with the strong, established tenants in each of these assets plus the attractive remaining lease terms means both deals represent solid investments for our clients – and both once again delivered by our expert teams on the ground.”
Source: IPE Real Assets
Melike Vodina / realestatecoulisse.com