TIAA Henderson Real Estate and Palmira Capital Partners acquire a Logistics Centre in Höchstadt
TIAA Henderson Real Estate (TH Real Estate) and Palmira Capital Partners have acquired a logistics and distributions warehouse in the Erlangen-Höchstadt district in Bavaria for the portfolio of the German special fund, the German Logistics Fund (GLOF). The "Lekkerland Distributionszentrum Höchstadt" comprises circa 11,850 square metres of net leasable area and is fully leased to Lekkerland Deutschland GmbH & Co. KG. The seller is Akkumula Immobilien GmbH & Co. KG. The parties have agreed to keep the purchase price confidential.
The property is located in the Höchstadt industrial estate next to the A3 motorway, and is characterised by equipment and features of a very high level. Among other features, there is a thermally insulated façade, insulated glazing and 105 light domes in the hall roof, which serve partially for smoke and heat ventilation purposes.
The logistics hall was designed and built in 2005 by the tenant of the time over a total surface area of 32,230 square metres. The rectangular storage hall comes with an off-lying two-storey office wing as well as a covered area on the southern side. The site also comprises 112 parking spaces.
"The exceptionally good infrastructure, combined with a large company as tenant which operates successfully for decades, makes this property a successful and sustainable project. We are very satisfied with the expansion of our portfolio", says Thorsten Kiel, Fund Manager of the German Logistics Fund.
The "Lekkerland Distributionszentrum Höchstadt" is the thirteenth acquisition for the GLOF carried out by TH Real Estate together with Palmira since December 2012. The GLOF is administered via the platform of the Service KVG IntReal. The target volume of the fund lies between 375 and 400 million euros.