TH Real Estate and Palmira Capital Partners acquire logistics centre from Panattoni Europe
TH Real Estate and Palmira Capital Partners have acquired a logistics asset currently under construction in Bad Rappenau near Heilbronn in southern Germany on behalf of its Investoren-Club-Fonds German Logistics (ICF GLOG) Fund. The asset was sold by Panattoni Europe, a full-service developer and investor for logistics and industrial real estate.
Totalling 25,000 sq m, the property is an automotive logistics centre and has been pre-let to the French automotive supplier, Faurecia. Bad Rappenau boasts close proximity to the A6 motorway, providing direct access to the city of Heilbronn and the Audi plant in Neckarsulm.
This asset is the fourth acquisition to be transacted jointly by TH Real Estate and Palmira Capital Partners, joint managers of the Fund on behalf of Institutional Investment Partners (2IP).
The Fund focuses on core high-quality, logistics properties in strong locations across Germany. It endeavours to generate a stable, long-term income stream by ensuring a high degree of risk diversification.