Valad Europe has acquired a logistics asset for €23m in the German state of Thuringia. The investment was made on behalf of the Valad European Diversified Fund (VEDF) which mainly invests in logistics, office and retail assets in Germany, the UK and France.
“The strategic location, strong covenant and long lease on this building make it an excellent investment and complement the portfolio of assets we are building for VEDF. The fund has now invested circa €60m in Germany so far this year across six assets, with a further €90m under offer or exchanged. We have recently doubled VEDF’s total capacity to €1bn and have in excess of €250m still to invest in Germany, where we believe the fundamentals of the market remain strong and continue to provide attractive investment opportunities,” said Andreas Hardt, head of Germany at Valad Europe.
