Palmira buys Alzenau Business and Technology Park for corporate property fund
Palmira Capital Partners (Palmira), one of the leading full-service investment managers of European logistics and industrial property, has acquired an almost fully-let commercial and technology park in Alzenau, Bavaria, for the Unternehmensimmobilien Club 1 (UIC1) fund. The vendor of the around 29,000 sq m property is ROSOLA Grundstücks-Vermietungsges. mbH & Co. Objekt Alzenau KG. The parties have agreed to keep the sale price confidential.
Alzenau is around 30 km east of Frankfurt am Main and 20 km north of Aschaffenburg. Between 1991 and 2009, high-quality warehouse and office space was constructed on a 76,000 sq m site and let to four international technology groups with excellent covenants (Heraeus, Bruker, Trane, Hyundai Motorsport) and the Stadtwerke Mainz.
UIC 1 invests in German corporate property in the "Core" risk class. It was established in 2016, for a twelve-year term. The investors are German and Austrian insurance companies, investment companies, pension funds and a savings bank.