German real estate company ABG Real Estate Group is expanding its activities into the market for logistics real estate through its investment management entity ABG Capital.
ABG Capital is entering into a strategic partnership with Dietz AG from Bensheim for the purchase of the Kerpen Logistics Centre for around €115 million.
ABG Capital takes over the majority of the shares in the logistics center as part of a share deal. Dietz AG will continue to hold a minority stake and will be significantly involved in asset management.
The property is located in a highly sought-after logistics location in the Cologne metropolitan area, and benefits from ideal traffic connections. The Kerpen Logistics Centre (situated in the “Turnich 3” business park) was completed in May this year; it is fully let via long-term leases to two renowned businesses from the supplier and events management industries. ABG Capital will acquire the majority of shares in the logistics centre, by way of a share deal – Dietz AG will continue to hold a minority stake in the company and will remain significantly involved in asset management.
Kerpen Logistics Centre, built to state-of-the-art construction standards, comprises a total lettable area of approximately 59,400m², including six halls offering flexible floor space options, plus high-quality offices in a separate administrative building. In addition, the property offers 300 parking spaces for passenger cars plus 15 HGV spaces. The property is a green building, with a DGNB “Gold” certificate.
Ulrich Höller FRICS , Managing Partner of ABG Real Estate Group: “We are embarking upon the next step in ABG Capital’s development, expanding its activities into the logistics market, which offers vast opportunities. The acquisition of the logistics centre in Kerpen is the ideal starting point for this purpose.”