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Palmira Capital Partners acquires core logistics asset, let to DB Schenker

Frankfurt/Vienna, 29 October 2020 − Palmira Capital Partners (Palmira), a European investment and asset manager specialising in logistics property, acting on an individual client instruction, has acquired the fulfilment centre of the international logistics company DB Schenker AG, in the Cargo Center Graz (CCG). The vendor was a consortium of investors based in Graz. The parties have agreed not to disclose the purchase price.

The property, situated in Werndorf, 15 kilometres south of Graz and 6 kilometres from the city's airport, is a fulfilment centre for DB Schenker AG, a subsidiary of Deutsche Bahn AG. The property, which stands on a ca. 72,000 square metre site, provides a lettable area of approx. 34,100 square metres. This comprises around 31,200 square metres of logistics space, including some 3,000 square metres of covered external space, together with ca. 2,900 square metres of office, staff and building services accommodation.
 
Eisenberger & Herzog advised Palmira on the legal aspects of the transaction, with Drees & Sommer responsible for the technical issues and Ambiente advised on environmental matters.

Thomas Jiresch, managing director of Palmira Austria, comments: “For Palmira and its Austrian subsidiary, this new acquisition is another ideal complement to the existing Austrian assets. We are one of the leading investors in logistics property in Austria and intend to further develop this position. We are delighted that both our investors and our tenants appreciate the ‘one-stop’ full service management that we provide".