Carlyle and Montano Real Estate have formed a partnership to invest in logistics real estate with a focus on distribution properties in prime urban locations in Germany.
As part of the new partnership, Montano will take over the asset management of Carlyle’s twelve existing logistics properties in Germany. These were acquired by Carlyle through the pan-European real estate fund Carlyle Europe Realty (CER), with a volume of 540 million euros.
The partnership aims to expand the portfolio to up to €500 million through further acquisitions.
The partnership will primarily focus on logistics properties in German cities with attractive demographic and economic fundamentals. Carlyle and Montano’s goal is to create value through active management and letting strategy, including renovations and selective repositioning. In the coming years, the partnership aims to increase the value of the entire portfolio to around EUR 500 million.
Ramin Rabeian, Managing Partner at Montano, said: “Distribution logistics continues to grow rapidly, and we are happy to work with a world-renowned investment manager like Carlyle to seize opportunities in the market. We will use our expertise in investment and asset management to add value create and assume that our partnership with Carlyle will enable us to expand the portfolio quickly. “
Erik Orbach, Director of the Advisory Team at Carlyle Europe Realty, commented: “Germany is one of the most established and attractive logistics markets in Europe. It is characterized by high demand and a simultaneous lack of high-quality, modern logistics properties. We look forward to our global and regional To use the knowledge and investment experience of the Carlyle Europe Realty team to expand our logistics presence in Germany together with Montano. “
Carsten Quehl, Director of the Advisory Team at Carlyle Europe Realty, added: “We are delighted to be expanding our asset management capabilities in the German logistics segment. This forms a core part of our investment strategy in Europe and is supported by our partnership with an experienced and recognized industry leader such as Montano strengthened and expanded. “