Palmira Capital Partners has acquired a further property for its Corporate Real Estate Club 2 (UIC 2). The asset is a commercial park in Dieburg, south of Frankfurt, Hesse which was purchased from a Family Office. The parties have agreed not to disclose the purchase price.
The business park, at Dieselstrasse 5, has a total lettable area of 11,257 sq m. The property is fully let to four commercial occupiers, with Coherent, a leading global manufacturer of photonics solutions, and the plastics experts Sauer Product as major tenants.
The acquisition now has four properties in the portfolio and the acquisition of a fifth property is already secured and additional purchases are close to completion.
UIC 2, which is aimed at institutional investors, focuses on commercial and small-scale office parks, and production properties in Germany.
For the current transaction Palmira was advised on legal and taxation issues by Dentons, Dusseldorf, and on the environmental aspects by Nova Ambiente. Technical consultancy was provided by Duff & Phelps, Frankfurt. Baumüller & Co. AG, Darmstadt, brokered the deal.