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Hochstadt

TIAA Henderson Real Estate and Palmira Capital Partners acquire logistics centre in Höchstadt, Germany

On behalf of its German Logistics Fund (GLOF), TIAA Henderson Real Estate (TH Real Estate) and Palmira Capital Partners have acquired a logistics and distribution warehouse in the Erlangen-Höchstadt district of Bavaria in Germany. The purchase price has not been disclosed.

The Lekkerland Distribution Centre comprises c.11,850 sq m of net lettable area and is fully leased to a strong tenant, Lekkerland Desutschland GmbH & Co. KG.

Located next to the A3 motorway in the Höchstadt industrial estate, the property boasts high-quality equipment and facilities. Additional features include a thermally insulated façade, insulated glazing, and 105 light domes in the roof of the logistics hall for smoke and ventilation purposes.

The c.32,250 sq m logistics hall was designed and built in 2005 to suit the requirements of the existing tenant, however this is a highly flexible space. The storage hall is accompanied by an off-lying, two-storey office area, as well as a covered section on the southern side of the building. The site also has 112 car parking spaces.

Thorsten Kiel, Fund Manager at TIAA Henderson Real Estate commented: “The exceptional infrastructure of the property is complemented by a strong tenant that has operated successfully for decades. We are pleased to add this sustainable project to our portfolio.”

This is the thirteenth acquisition for GLOF, a partnership between TH Real Estate and Palmira Capital Partners, a specialist in logistic real estate who act as Investment Advisor to the Fund. The Fund’s target volume is between €375-400m.

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.

* All figures as at 30 June 2014.

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