Elite Partners Capital acquires logistic centre in Germany
The area covers approximately 1.94 million sq ft. More than 85% of the real estate’s final lettable area is presently occupier to an automotive giant on a prolonged contract, working as their worldwide logistics centre.
The investment was marketed by a shared project in between international alternative investment organization firm TPG Angelo Gordon and Germany-based investment and property management business aam2core Holding. The deal was brokered by CBRE’s capital markets group in Germany.
Victor Song, co-founder and chief executive officer of Elite Partners Capital, says that the stabilising lending rates presents a calculated window of chance for financiers to return to the market.
Elite Partners Capital, a Singapore-based alternative financial investment management business, has acquired a worldwide logistics facility located within Ettlingen West’s Industrial Zone, Germany. The massive multi-user logistics park is close to Stuttgart, the automotive capital of Germany.
The industrial area is served by lots of commuter choices, providing direct links to various motorways, easy access to the Port of Karlsruhe– a significant inland port around the Rhine waterway, as well as closeness to major international airport terminals in Frankfurt and Stuttgart.
In a June 27 news release, the company states that the area was acquired through the firm’s main Elite Logistics Fund II. The Pan-European logistics fund is sustained by a sovereign assets fund, together with an affiliate of family offices throughout Asia.
Elite Partners Capital plans to boost the center’s environmental, social and governance (ESG) specifications, and anticipates to achieve the DGNB Gold Accreditation– the accreditation awarded by Germany’s renewable structure committee.
