TH Real Estate and Palmira Capital Partners acquire parcel distribution centre near Ulm
TIAA Henderson Real Estate (TH Real Estate), together with Palmira Capital Partners, has acquired a parcel distribution centre for its German Logistics Fund (GLOF). The 8,000 sq m property, leased to logistics service provider ‘trans-o-flex’ until 2023, is located in Dettingen an der Iller, about 40 kilometres south of Ulm. The asset serves the triangle-shaped area between Stuttgart, Munich and the Swiss border.
The asset was acquired from AXA Investment Managers. The parties agreed not to disclose the purchase price.