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Palmira acquires Wiesbaden industrial park from Aurelis

Frankfurt, 12 July 2021 - Palmira Capital Partners (Palmira), one of Europe's leading investors and asset managers in logistics and corporate real estate, has acquired a commercial park from Aurelis Real Estate for a separate account in an off-market transaction.

The property is a commercial park, at Peter-Sander-Strasse 41 - 43 in Wiesbaden. Originally completed in 1991/92, it was most recently modernised in 2017. Standing on a site of around 17,900 square metres, the asset provides a lettable area of approximately 16,300 square metres. This comprises around 3,200 square metres of warehouse space, 8,100 square metres of office and staff accommodation and around 5,000 square metres of ‘service’ (multi-purpose) space. The property is approximately 75% let.

Palmira was advised on the legal and tax aspects of the transaction by Dentons, Dusseldorf. Technical advice was provided by Duff & Phelps and ESG monitoring was carried out by Westbridge. Nova-Ambiente was responsible for environmentally related matters. Mayer Brown provided legal advice to Aurelis.