Ofi Invest Real Estate has acquired, on behalf of one of its clients, a core logistics property located in Gerlinden’s industrial park in Maisach, near Munich.
The asset was sold by Savills Investment Management on behalf of its diversified pan-European flagship fund. The sale price was not disclosed.
The asset, completed in 2012, offers modern Grade A specifications over c.21,700 sqm of lettable space and is awarded with a DGNB level Gold certificate. It is fully let to its historical tenant, and benefits from an excellent accessibility via public transportation (S-Bahn and bus stops).
The location benefits from a dense motorway network, giving access to the local industry and consumption area; and acts as a key gateway between northern and southern Europe.
Grégoire Bailly-Salins, Head of Transactions Europe at Ofi Invest Real Estate SAS, comments: “ We are pleased to announce the acquisition of this prime logistics warehouse, strategically located close to Munich, which constitutes our first logistics investment in Germany. This acquisition is in line with our selective investment strategy, focusing on high-quality assets and locations, offering long-term potential and viability. Achieving this transaction in the current market environment showcases our ability to grasp market opportunities on the most resilient assets”.
Norbert Stangelmayer, Director, Fund Management at Savills Investment Management, says: “We acquired the Maisach asset for our pan-European fund in 2013. The asset benefits from a stable distribution, a long-term tenant, high ESG credentials and an excellent location. With this disposal we have taken advantage of the sustained demand for core logistics properties in Germany and are realising the value gained for the benefit of our investors.”
Ofi Invest Real Estate is the real estate arm of Ofi Invest group, created by the merger of Aema Reim, Ofi Pierre and Abeille Reim, and manages more than €12.8 Bn. Ofi Invest is the fifth largest French asset management group, with €182 Bn in assets under management.
Click here to receive CRE Herald’s weekly newsletter, news alerts and insights!
