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TH Real Estate and Palmira Capital Partners acquire parcel distribution centre near Ulm

Dettingen

TIAA Henderson Real Estate (TH Real Estate), together with Palmira Capital Partners, has acquired a parcel distribution centre for its German Logistics Fund (GLOF).

The 8,000 sq m property, leased to logistics service provider ‘trans-o-flex’ until 2023, is located in Dettingen an der Iller, about 40 kilometres south of Ulm. The asset serves the triangle-shaped area between Stuttgart, Munich and the Swiss border.

The asset was acquired from AXA Investment Managers. The parties agreed not to disclose the purchase price.

Thorsten Kiel, Fund Manager, GLOF, TH Real Estate, said: “The property is conveniently and centrally located in southern Germany, serving the economically-strong metro regions of Munich and Stuttgart.”

 

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Issued by Henderson Real Estate Asset Management Limited, 201 Bishopsgate, EC2M 3BN. Authorised and regulated by the Financial Conduct Authority. TH Real Estate is a name under which Henderson Real Estate Asset Management Limited provides investment products and services. Past performance is not a guide to future returns. The value of investments and any income will fluctuate (this may be partly be the result of exchange rate fluctuation) and investors may not get back the full amount invested. Where opinions have been expressed, they are based on current market conditions and are subject to change without notice.

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