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TH Real Estate and Palmira Capital Partners acquire Gernsheim logistics centre

Gernsheim

TH Real Estate and Palmira Capital Partners have acquired the Gernsheim logistics centre, located southwest of Frankfurt am Main, on behalf of the ICF German Logistics Fund.

The property, which is fully let to a German logistics company on a long-term lease, was sold by a local property developer.

Located on a trading estate in the town of Gernsheim in southern Hesse, the recently completed distribution and logistics centre has a gross lettable area of c.36,300 sq m (390,730 sq ft), with the ability to be partitioned. The nearby Rhine ports in Gernsheim and Worms, as well as several motorway junctions, ensure that the site is well connected to the Rhine-Main and Rhine-Neckar metro regions, reaching a catchment area of c.23 million people.

Thorsten Kiel, Head of Logistics, Europe at TH Real Estate, comments: "With its excellent connectivity, this property is in the perfect location to reach a large number of people. This combined with the modern high quality specifications make it perfect for a variety of uses."

TH Real Estate and Palmira Capital Partners were advised by wesbau Consulting GmbH. Schultze & Braun advised the seller.

The acquisition in Gernsheim is the 14th asset acquired for ICF German Logistics Fund. TH Real Estate and Palmira Capital Partners will jointly asset manage the portfolio.

Issued by Nuveen Real Estate Management Limited, 201 Bishopsgate, EC2M 3BN. Authorised and regulated by the Financial Conduct Authority. TH Real Estate is a name under which Nuveen Real Estate 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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