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Henderson and Palmira acquire C&A distribution hub in Peine, Germany

Henderson Global Investors, on behalf of its German Logistics Fund (HGLOF), has acquired a logistics building in Peine, Lower Saxony in Germany from property company Redevco.

Henderson Global Investors, on behalf of its German Logistics Fund (HGLOF), has acquired a logistics building in Peine, Lower Saxony in Germany from property company Redevco. It represents the eighth acquisition for the Fund. The purchase price has not been disclosed.

The property, with a rental area of almost 60,000m2, consists of an existing building as well as an extension that is currently under construction. The facility contains 85 loading bays as well as 299 parking spaces. It is let to C&A Mode GmbH &Co.

Thorsten Kiel, Manager of the Fund said: “The ideal location of this asset - situated between the logistics metropolis of Hanover and the industrial area around Wolfsburg and Salzgitter close to the motorway A2 - offers therefore excellent connections to north German metropolitan regions, all main ports, and Eastern Europe. The property is currently tailored to the needs of a tenant from the textile industry, however, its flexibility of conversion means that it can easily be used for a different purpose.”

The Henderson German Logistics Fund is a partnership between Henderson’s German Property Business and Palmira Capital Partner, a specialist in logistic real estate acting as Investment Advisor to the Fund. It is managed via IntReal Service-KAG’s platform.

Cologne-based CREM-CONSULT GmbH were consultants on the purchaser’s side of the acquisition and Graf von Westphalen were the legal advisors while REAG offered technical consultancy services and Ambiente were the environmental advisors.

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