Germany
CBRE Global Investors acquires two German logistics assets
12 Jun 2018
CBRE Global Investors has acquired two recently completed distribution centers in Germany. The assets were secured in a forward purchase as part of a larger portfolio deal concluded with US-based developer Hillwood in 2016.
The distribution center in Weiterstadt near Darmstadt offers 38,200 sqm of GLA. Located next to the A5 motorway on Carl-Zeiss-Strasse 5, the asset is 98% leased to several tenants. The site is set to profit from an upgrade of the A5, which is currently under construction and will be opened to traffic from the beginning of 2019, when a so-called e-highway will provide an extra lane for electronic vehicles between Frankfurt and Darmstadt-Weiterstadt.
The second distribution center is located in Düsseldorf’s Heerdt district (Wiesenstrasse 61), contains 34,400 sqm of rental space and is fully leased. The main tenants, on 11,000 sqm of space each, are logistics service providers Rhenus and Panalpina.
CBRE Global Investors has built up a balanced and diversified portfolio of industrial assets in Germany’s largest metropolitan areas for its client, with a total value of over € 800m, over 30 assets across Germany. 70% of the properties are located in Frankfurt, Hamburg, Munich and Düsseldorf.
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About CBRE Global Investors
CBRE Global Investors is a global real estate investment management firm with $86.5 billion in assets under management* as of March 31, 2017. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE). It harnesses the research, investment sourcing and other resources of the world’s premier, full-service commercial real estate services and investment company for the benefit of its investors. CBRE Group, Inc. has more than 75,000 employees in approximately 450 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.
*Assets under management (AUM) refers to the fair market value of real estate-related assets with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice, and which generally consist of investments in real estate; equity in funds and joint ventures; securities portfolios; operating companies and real estate-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real estate market, and its calculation of AUM may differ from the calculations of other asset managers.
The distribution center in Weiterstadt near Darmstadt offers 38,200 sqm of GLA. Located next to the A5 motorway on Carl-Zeiss-Strasse 5, the asset is 98% leased to several tenants. The site is set to profit from an upgrade of the A5, which is currently under construction and will be opened to traffic from the beginning of 2019, when a so-called e-highway will provide an extra lane for electronic vehicles between Frankfurt and Darmstadt-Weiterstadt.
The second distribution center is located in Düsseldorf’s Heerdt district (Wiesenstrasse 61), contains 34,400 sqm of rental space and is fully leased. The main tenants, on 11,000 sqm of space each, are logistics service providers Rhenus and Panalpina.
CBRE Global Investors has built up a balanced and diversified portfolio of industrial assets in Germany’s largest metropolitan areas for its client, with a total value of over € 800m, over 30 assets across Germany. 70% of the properties are located in Frankfurt, Hamburg, Munich and Düsseldorf.
– ENDS –
About CBRE Global Investors
CBRE Global Investors is a global real estate investment management firm with $86.5 billion in assets under management* as of March 31, 2017. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE). It harnesses the research, investment sourcing and other resources of the world’s premier, full-service commercial real estate services and investment company for the benefit of its investors. CBRE Group, Inc. has more than 75,000 employees in approximately 450 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.
*Assets under management (AUM) refers to the fair market value of real estate-related assets with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice, and which generally consist of investments in real estate; equity in funds and joint ventures; securities portfolios; operating companies and real estate-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real estate market, and its calculation of AUM may differ from the calculations of other asset managers.