Palmira adds three properties to portfolio

Palmira adds three properties to portfolio

Palmira Capital Partners has added several properties in Rhineland-Palatinate, Hesse and Bavaria to the portfolio of Unternehmensimmobilien Club 2 (UIC 2) fund in three separate transactions.

In Trier, Rhineland-Palatinate, the ‘Wissenschaftspark’ (Science Park) was acquired. The eight-property office park, with a total area of approx. 27,700 sq m, is virtually fully let to over 80 tenants, including the University of Trier and the Federal Institute for Real Estate. The vendor of the property is a company in the Saarbrucken-based Munitor Group.

In Kassel, northern Hesse, the Schmidtsche Schack/Arvos production property was acquired on a sale-and-lease-back deal. It is let for 15-years on a long-term basis. Providing around 18,900 sq m of lettable space, the property comprises office, warehouse and production space. It is the HQ of the over-100-year-old company, which is one of the world’s leading manufacturers of heat transfer solutions.

Finally, a multi-tenant commercial park was acquired in Puchheim, to the west of Munich, Bavaria. The “Ikaruspark”, immediately adjoining the Munich motorway ring, provides some 14,500 sq m of office and storage space. It is almost fully let to over 30 occupiers in a range of sectors. The vendor is a property company owned by S Immo AG.

The parties have agreed not to disclose further details of the transactions, which were notarised in the third and fourth quarters of 2022.