Palmira Capital Partners and TH Real Estate Acquire Logistics Park near Munich
TH Real Estate and Palmira Capital Partners have acquired a logistics park in Unterschleissheim (“Logistikpark Unterschleissheim”), 17 km north of Munich, for the portfolio of the German Logistics Investors Club Fund (Investoren-Club-Fonds German Logistics, ICF GLog). The seller was Gewerbe- und Containerpark 24 GmbH & Co. KG.
The logistics park, used as distribution and trans-shipment centre, and with a gross lettable area of around 24,000 sq m, is located at Ohmstrasse 2 in Unterschleissheim. Built in 1988, it was most recently refurbished in 2016, and at the same time expanded. The dry goods and deep-freeze warehouses on the property are equipped for cross-docking and complemented by parking and manoeuvring areas. Its location within the Munich urban region is directly connected to the city's northern orbital motorway and to Munich Airport via the A9 and A92 autobahn connectors.
The asset is fully occupied on a long-term lease to multiple tenants, the main one being freight-forwarder Logistikpartner Schneider & Co GmbH Speditions- und Logistik KG. The acquisition was facilitated by Bernhard Jentsch, an industrial and commercial broker, and auctioneer.
Logistikpark Unterschleissheim represents the 12th asset that TH Real Estate and Palmira Capital Partners have acquired for ICF GLog – a fund initiated by Institutional Investment Partners (2IP) on behalf of an investor club. TH Real Estate and Palmira Capital Partners will take over asset management of the portfolio.