- Portfolio comprises 14 core logistics assets throughout Germany
- 96% let to several well-known tenants
- PATRIZIA European logistics portfolio totals over EUR 5 billion
Augsburg, 18 December 2020.PATRIZIA AG, a leading partner for global real assets, has transferred a core German logistics portfolio to a fund newly established by PATRIZIA for AEW Invest GmbH.
The portfolio comprises around 285,000 sq m lettable space across 14 assets located in key German logistics hubs including Hamburg, Munich, Frankfurt/Main and Stuttgart. With 96% occupied, the portfolio is let to well-known tenants including Dachser, DSV, trans-o-flex, Rhenus and Transa, the DB Schenker subsidiary.
Dr. Kilian Mahler, Head of Fund Management Logistics and Caverns at PATRIZIA, commented: “We bought the portfolio over several years with single assets and smaller portfolio transactions. Good market dynamic in the asset class logistic and successful asset management activity during the last couple of years allowed us to create a core logistics portfolio. Covid-19 has undoubtedly accelerated the existing trends that have underpinned the positive outlook for the logistics sector for some time, particularly around the growth of e-commerce and increasing consumer demand for faster deliveries. We identified the right timing to finalize the fund strategy and realize returns far above the initial forecast.”
This latest transaction further strengthens PATRIZIA’s track record in the German logistics sector. Overall, logistics makes up around 11% of PATRIZIA’s assets under management. The value of PATRIZIA’s European logistics portfolio currently stands at over EUR 5 billion.
PATRIZIA was advised by Hogan Lovells and CBRE.
PATRIZIA: A leading partner for global real assets
As a company with operations around the world, PATRIZIA has been offering investment opportunities in real estate and infrastructure assets for institutional, semi-professional and private investors for 36 years. PATRIZIA manages more than EUR 46 billion in assets and employs over 800 professionals at 24 locations worldwide. Through its PATRIZIA Foundation, PATRIZIA is committed to social responsibility. The Foundation has helped over 220,000 children in need worldwide over the last 20 years. You can find further information at www.patrizia.ag
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