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Palmira acquires distribution centre near Vienna

Palmira Capital Partners (Palmira), the investment manager specialising in logistics and industrial properties, has acquired a modern distribution centre in the Greater Vienna area for the Palmira Logistik Europa Fonds 1 (PLEF 1) fund. The vendor is a provider of logistics accommodation. The parties have agreed to keep the purchase price confidential.

The property was completed in 2011, at Ebergassingsstrasse 3-5 in Himberg, near Vienna. It has a lettable area of 10,940 sq m, providing 10,165 sq m of warehouse space and 775 sq m of offices and staff rooms.

Logistics firm Kühne + Nagel is the sole tenant of the asset.

The Eisenberger Herzog legal practice advised Palmira on legal issues, while Drees & Sommer carried out the technical due diligence, TPA on the taxation side and Ambiente advised on environmental matters. CBRE was also involved in the transaction in an advisory capacity.

Palmira has been active in the Austrian market since the end of 2015. Since then it has acquired properties that include the Tec Center Lebring, the Cargo Center Graz and the Magna Logistics and Operational Centre, also in Graz.