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TH Real Estate acquires warehouse in Überherrn, Germany

TH Real Estate and Palmira Capital Partners have acquired a warehouse development in the western German town of Überherrn from Panattoni Europe. The property, which is located c. 30 kilometres west of Saarbrücken, has been acquired on behalf of club fund “Investoren-Club-Fonds German Logistics” (ICF GLOG)

Sitting on a plot of 24,000 sq m (c. 258,000 sq ft) , the distribution centre occupies a gross floor area of 11,130 sq m (c. 120,000 sq ft) which breaks down into 10,530 sq m (c. 113,000 sq ft) of single-storey warehouse space and 600 sq m (c.65,000 sq ft) of two-storey office and social areas. Construction began in June 2016 and it is due to be completed by the end of the year. The developers are seeking a Gold certification for the property from the German Sustainable Building Council, DGNB.

The asset forms part of Dachser's logistics centre Saarland, one of the three European hubs of the logistics service provider. It will be occupied by Dachers SE on a long-term lease.

The distribution centre in Überherrn is the latest in a string of nine acquisitions to date for ICF GLOF, an investment fund initiated by Institutional Investment Partners (2IP). Managed on behalf of an investor club and jointly managed by TH Real Estate and Palmira Capital Partners, the fund invests primarily in high-end logistics properties in quality locations across Germany.

Thorsten Kiel Head of Logistics, Europe and Fund Manager of the ICF GLOG, at TH Real Estate, said: "The outstanding site, close to the border of Germany and France, makes Überherrn a very attractive location for cross-border traffic. The asset has potential for further expansion and its flexible design makes it suitable for alternative use."

Disclaimer 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. 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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