Palmira Capital Partners and TH Real Estate acquire logistics asset near Nuremberg, Germany
Palmira Capital Partners and TH Real Estatehave acquired a distribution centre in the town of Winkelhaid in northern Bavaria, Germany, on behalf of the Investoren-Club-Fonds German Logistics (ICF GLOG).
The property was sold by an affiliate of MCAP Global Finance Ltd in London, the European arm of Marathon Asset Management, L.P., in New York.
Located 20 km south-east of Nuremberg, near the Kreuz Altdorf motorway interchange, the property has direct access to the A6 and A3 motorways. The distribution centre was built in 2001, and totals 13,830 sq m (148, 542 sq ft) divided into warehouse, office and ancillary space. The property is occupied by the office wholesaler Adveo GmbH as its distribution hub for southern Germany and southern Europe.