Palmira Capital Partners and TH Real Estate acquire logistics development in Ketsch
Palmira Capital Partners and TH Real Estate have acquired a logistics development in Ketsch, some 20 kilometres south of Mannheim, on behalf of the Investors’ Club Fund German Logistics (ICF GLog). The seller and developer of the property, which is still under construction, is the development company Panattoni Europe, with whom the two companies have repeatedly worked in the past. The property has been rented out to 21sportsgroup under a long-term lease even before the construction works have been completed.
The logistics warehouse has a rentable space of approximately 30,000 square metres and is being built on a 67,300 square metre plot on Sachsenstraße in the southern part of Ketsch. The junctions to the motorways A6 and A61 are in the immediate vicinity; the motorway A5 can be reached very easily by the nearby interchange Walldorf. Construction is expected to be completed in March 2018.
The buyer was advised by Wirtschaftskanzlei GvW Graf von Westphalen, REAG GmbH Real Estate Advisory Group Germany and the advisory group WTS.
The property in Ketsch is the 13th acquisition for the ICF GLog that has been initiated by Institutional Investment Partners (2IP) for an investors’ club. Palmira Capital Partners and TH Real Estate have been mandated as asset managers.