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TIAA Henderson Real Estate and Palmira Capital acquire Logistics Centre in Northern Germany


TIAA Henderson Real Estate (TH Real Estate) and Palmira Capital Partners have acquired another asset for their German Logistics Fund (GLOF).

The asset consists of a 21,000 sq m logistics distribution centre that was completed in 2012 by HR Logistik GmbH & Co KG. It is occupied by a food logistics operator on a long-term lease. Located in the town of Oyten in Lower Saxony, directly on the border to Bremen, it benefits from a modern fit-out and superior transportation access due to the direct proximity of the motorway interchange to Bremen (A1/A27).

The Bremen metro area is one of Germany's traditional logistics regions. The efficient and flexible infrastructure, combined with rising demand from the retail and industrial sectors, and the long-term stability of the skilled labour pool, make the region an attractive location for logistics real estate.

GLOF invests in core-plus logistic assets across well connected locations in Germany, that meet its high quality and long-term let-ability investment criteria. The Fund targets a total investment volume of c.€375m and an annual dividend yield of 8%. It is administered via the platform of IntReal Service-KAG.

Thorsten Kiel, Fund Manager of GLOF, TH Real Estate, said: "The sound micro-environment at one of Germany's leading logistics clusters, along with its highly modern fit-out, are just two of this asset’s benefits which lend to an attractive risk-reward investment profile."

Issued by Henderson Real Estate Asset Management Limited, 201 Bishopsgate, EC2M 3BN. Authorised and regulated by the UK's Financial Conduct Authority (FCA). 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.