Hubert Reck and Marcus Blumenthal, two renowned experts in logistics real estate, in collaboration with the owners of Palmira Capital Partners, have founded Palmira Development GmbH (Palmira Development). The company will focus on development and consulting services for industrial and logistics properties. The two real estate professionals will run the new company as equal managing partners. Palmira Development has offices in Frankfurt, Munich and Stuttgart.
Both Hubert Reck and Marcus Blumenthal have decades of experience in the field of industrial and logistics real estate and are proven experts in property development, investment and leasing. Hubert Reck worked for Colliers International Germany for over 20 years, most recently as Head of Industrial & Logistics Stuttgart. Marcus Blumenthal has also been active for Colliers International for the past 16 years, holding the position of Senior Director Industrial & Logistics Investment.
Palmira Development’s strategy is property development with transparent risk. Their interest is concentrated on the acquisition of greenfield sites of 25,000 square metres or more, and brownfield properties with 15,000 square metres or more of lettable area, either vacant or with short remaining leases. The company will also facilitate the implementation of value enhancement activities and extensions to existing properties in the Palmira Capital Partners portfolio.
As part of the Palmira Group, which is active throughout Europe in investment, fund, asset and property management, has over EUR 2 billion of assets under management, Palmira Development can draw on additional capacity in the areas of personnel and research when required.
Compliance with and implementation of ESG criteria have been part of the firm’s philosophy from the very beginning, and theseare an integral element of all the services offered by Palmira Development. Additionally, Palmira Development’s real estate projects are planned and implemented in order that they are awarded sustainability certificates. The company is particularly committed to investing in sustainable energy systems and environmentally-compatible and resource-saving production processes.
