Palmira acquires corporate property in Fulda

Palmira Capital Partners (Palmira) has acquired another property, in Fulda, Hesse, for its Corporate Real Estate Club 2 (UIC 2). The vendor is MOLMIRA Vermietungsgesellschaft mbH & Co. Objekt Fulda KG. The parties have agreed not to dis-close the purchase price.

The property at Washingtonallee 13-17, which provides around 6,600 sq m of storage space and 5,125 sq m of offices, stands on a site of approximately 25,000 sq m. The two buildings, dating from 1920 and 2014, have been comprehensively refurbished. The property is fully let to R+S Group GmbH, a leading electrical wholesaler.

Palmira was advised on legal and taxation issues by Dentons, Dusseldorf, and on the environmental aspects by Nova Ambiente. Technical and ESG consultancy was provided by CBRE, Frankfurt. Dr. Lübke & Kelber, Frankfurt, brokered the transaction.