Palmira buys a Dutch cross dock logistic facility for European Core Logistics Fund

Palmira Capital Partners (Palmira) has acquired a further property for the European Core Logistics Fund (ECLF). The seller is Prodelta Real Estate. The parties have agreed not to disclose the purchase price.

The acquisition is a cross dock logistic location, of which the office is completely renewed in 2019, at Maxwellstraat 5 in Ede, the Netherlands. The property is located at Business Park Frankeneng nearby the junction of the motorway A12 and A30. The Randstad, Ruhr region and northern Germany are easily accessible. Situated on a plot of land measuring around 36,000 square metres, the property comprises around 20,900 sqm warehouse space and 2,100 sqm office and social space. The property is fully let for approximately 8 years.

Palmira is supported in the transaction in legal and tax matters by Dentons. Drees & Sommer provided advice on technical details, Nova Ambiente was responsible for environmental issues and ESG monitoring. Q.G.M. Law has acted as notary on this transaction. Prodelta Real Estate is supported by Loyens & Loeff and 1530 Real Estate.

As a pan-European fund, the ECLF is aimed at institutional investors and is targeting an equity volume of at least €350 million. In total, investments of approximately 650 million euros are possible. Palmira had previously acquired 6 properties for the fund in 2021 (Linz, Austria; Lodz & Gliwice, Poland; Norderstedt & Ottmarsheim, Germany; and Dronten, The Netherlands).