Palmira Capital Partners (Palmira) has acquired the investment of a new logistics building with a lettable space of approximately 18,000 sq m in Esselbach, Bavaria, located on the A3 between the Rhine-Main and Nuremberg/Würzburg metropolitan regions.
The seller is Westarp KG. The parties have agreed not to disclose the purchase price. The occupants of the property at Am Bärnroth 7 are Waldaschaff Lingyun Industrial, part of the Lingyun Industrial Group Co. Ltd, a leading supplier to the Chinese automotive industry, and the logistics company Teamlog.
Palmira was advised on this off-market deal by Dentons on legal matters, CBRE on technical issues and Nova Ambiente on environmental compliance.