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TH Real Estate and Palmira Capital Partners acquire logistics asset near Nuremberg, Germany

ICF Nürnberg

TH Real Estate and Palmira Capital Partners have acquired a distribution centre in the town of Winkelhaid in northern Bavaria, Germany, on behalf of the Investoren-Club-Fonds German Logistics (ICF GLOG).

The property was sold by an affiliate of MCAP Global Finance Ltd in London, the European arm of Marathon Asset Management, L.P., in New York.

Located 20 km south-east of Nuremberg, near the Kreuz Altdorf motorway interchange, the property has direct access to the A6 and A3 motorways. The distribution centre was built in 2001, and totals 13,830 sq m (148, 542 sq ft) divided into warehouse, office and ancillary space. The property is occupied by the office wholesaler Adveo GmbH as its distribution hub for southern Germany and southern Europe.

Thorsten Kiel, Head of Logistics, Europe, TH Real Estate, comments: “The property benefits from excellent transport links and connectivity to the Nuremberg metro area. In addition, its multifunctional floor plan makes it suitable for several different uses.

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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