CBRE Global Investors acquired three logistics assets in Germany from Deka Immobilien. The portfolio includes a 16,124 sqm warehouse located in the Dietzenbach-Nord area near Frankfurt. The two-story property was built in 2001 and is currently fully leased to Geis Industrie Service. The second asset is located in Hamburg’s Billbrook logistics area. The investment covers 31,668 sqm and is occupied by Schwarze und Consort. The third property, Werner-Siemens-Strasse, is also located in the city’s Billbrook industrial area and covers 22,098 sqm. The property is leased to GLS.
“We have acquired assets that meet the strategy of our investors of securing long-term holds in the strongest German logistics markets. The portfolio is 98 percent occupied, and there is almost no supply in these markets so the probability of lease renewals is high,” said Ulrich Oppermann, head of transactions for Germany at CBRE Global Investors.
