Carlyle adds logistics asset to German portfolio

Carlyle adds logistics asset to German portfolio

Carlyle Group has acquired a distribution logistics asset in Germany.

The logistics asset, which totals 13,090 sqm, is situated in a prime location with easy access to Munich’s city centre.

Equity for the investment came from Carlyle Europe Realty (CER), a €540 million pan-European real estate fund, said Carlyle in a statement.

In October 2020, Carlyle Europe Realty acquired a portfolio of 27 distribution logistics assets in France and Germany, and added three additional German assets to the platform in January 2021.

“This acquisition is in line with CER’s strategy of identifying well-located assets in the distribution logistics space as we continue grow our leading and scalable platform. It represents a rare opportunity to acquire a building with significant embedded value-creation potential through repositioning. The transaction also increases our exposure to the attractive Munich logistics market with the addition of a prime urban location. We continue to remain active in identifying and acquiring additional logistics opportunities in both Germany and across other key European markets,” said Erik Orbach, Director on the Carlyle Europe Realty advisory team.

The asset was acquired from Luxembourg based Incantada Capital S.á.r.l., a vehicle of European Property Holdings S.á.r.l. which belongs to Johannesburg-listed MAS Real Estate Inc.