Germany-based listed real estate company Branicks Group AG (formerly DIC Asset AG) has sold two logistics properties in Neufahrn near Munich to a foreign investor for €80 million.
The closing is planned for the end of December 2023.
With this sale, Branicks has achieved a notarized sales volume of €225 million across all segments since the beginning of the year and is further approaching the forecast annual target of €300 to €600 million in notarized sales (including 300 to 500 million euros from its own portfolio). Further sales are planned until the end of the year.
The two properties are properties in the warehouse/logistics sector with a fully let total rental area of around 72,800 square meters. The tenants are Imperial Logistics International and LIV (SCHERM Group). The Branicks subsidiary VIB Vermögens AG had the two directly neighboring logistics properties on Lilienthalstrasse (Ludwig-Erhard-Strasse 7, Lilienthalstrasse 8) in the immediate vicinity of Munich Airport in Neufahrn, Upper Bavaria, in its portfolio since 2007 and 2012, respectively.
“With the sale of the two properties built in 1963 and 1964, we are continuing our focus on younger, more energy- and climate-efficient properties in the logistics asset class. We are also further strengthening our consolidated balance sheet as part of the ‘Performance 2024’ action plan,” said Sonja Wärntges, CEO of Branicks.
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