Aquila Real, an owner-managed and independent property investment company, has realised a total volume of around 50 million euros with three transactions in 2023. Two properties were acquired, and one was sold.
Two light industrial assets were added to the portfolio. One of these is a property at Neuköllnische Allee 112 in Berlin. Dating from 1975 and 1983, the inner-city single-tenant property provides a lettable area of around 6,200 sq m. On a c. 6,500 sq m site in the Neukölln district of Berlin, the property benefits from very good links to the A100 and A113 motorways. It is fully let, with an unexpired term of 9.5 years, to FTA Film- und Theater-Ausstattung GmbH, one of the largest rental companies of theatrical props.
The second property is situated at Büssingstrasse 6 in Haan, North Rhine-Westphalia. Close to Düsseldorf, the property stands on a 12,500 sq m site and provides around 8,000 sq m of lettable area. This includes 7,000 sq m of logistics space and 1,000 sq m of offices. The asset, which boasts good connections to the motorway network in the Düsseldorf area, is currently fully let to four occupiers. The weighted average unexpired lease term (WALT) is around two years.
Additionally, despite the challenging market environment, Aquila Real successfully sold the retail warehouse at Dortmunder Strasse 110 in Hamm. Built between 1988 and 1991, the centre is anchored by a Toom DIY store, occupying around 45% of the approx. 11,600 sq m total lettable area. The other units in the inner-city property, situated in a popular commercial area in the west of Hamm, are occupied by seven different retail operations. The property is currently 90% let and the WALT of around five years.
Leon Thomsen, Managing Director of Aquila Real, comments: “The successful completion of transactions, even in last year’s challenging market environment, is primarily attributed to Aquila Real’s interdisciplinary team of experienced and well-connected experts with track records at companies such as Edmond de Rothschild REIM, CMS Hasche Sigle and Westbrook Partners. Furthermore, we see opportunities in the current state of the transaction marketto realise selected investments with potential for value growth and higher yields.”
Aquila Real already plans further acquisitions for 2024 and focuses on properties in the urban logistics/last mile segment and on retail warehouse centres with value-add potential.
