Palmira Capital Partners (Palmira), investors and asset managers in logistics and corporate real estate, has acquired a commercial park from Aurelis Real Estate for a separate account in an off-market transaction.
The property is a commercial park, at Peter-Sander-Strasse 41 – 43 in Wiesbaden. Originally completed in 1991/92, it was most recently modernised in 2017. Standing on a site of around 17,900 sqm, the asset provides a lettable area of approximately 16,300 square metres. This comprises around 3,200 sqm of warehouse space, 8,100 sqm of office and staff accommodation and around 5,000 sqm of ‘service’ (multi-purpose) space. The property is approximately 75% let.
Palmira was advised on the legal and tax aspects of the transaction by Dentons, Dusseldorf. Technical advice was provided by Duff & Phelps and ESG monitoring was carried out by Westbridge. Nova-Ambiente was responsible for environmentally related matters. Mayer Brown provided legal advice to Aurelis.
