CBRE Global Investors bought a German logistics portfolio for €128.4m from Hellmich Unternehmensgruppe. The portfolio, acquired in an off-market deal on behalf of two separate account clients, includes 10 newly developed modern cross dock facilities, six of which are located in North Rhine-Westphalia. The facilities, offering a total 51,015 sqm of space, are all leased to DHL with an average lease length of 13 years.
“This portfolio is of exceptional quality. All 10 assets are located in highly populated areas where there is limited land supply. DHL is the biggest parcel deliverer in Germany and the sheds are of strategic importance to them. We believe that these factors make this a unique acquisition, and one that will generate stable income for our clients,” said Marius Schöner, head of CBRE Global Investors Germany.
