CCP III, a fund advised by the pan-European real estate investment manager Tristan Capital Partners acquired logistic warehouses in Germany in a transaction worth over €30m. The assets, located in the Hamburg harbor and Uberherrn in the Saarland, were part of the Logis Fund portfolio.
DHL occupies the Hamburg property, while Dachser has taken the big box in Ubernehm near the French border. In total, the facilities amount to 46,621 sqm of warehouse and 4,071 sqm of office. “Logistics is increasingly becoming a mainstream property sector asset class for institutional investors, due to its attractive rental income yields relative to other sectors,” said Cameron Spry, Head of Investments for Tristan Capital.
“The supply/demand picture for the logistics market in Europe is also very positive, especially for top locations such as these, due to a dearth of development in the last few years. Therefore it’s not surprising that two of the leading logistics firms in Germany had previously chosen the assets that our fund has just acquired as their strategic operational hubs.” CBRE, Garbe Logistic AG and Taylor Wessing advised the seller, while Alpha Industrial and Mayer Brown represented the buyer.
