GvW Graf von Westphalen advises real estate fund on the acquisition of a logistics park in Herrenberg, Germany
Henderson Global Investors and Palmira Capital Partners have purchased a logistics park in Herrenberg for the real estate special fund "Henderson German Logistics Fund". The logistics park consists of a 135,000 m2 piece of real property located to the south-west of Stuttgart with a total of 50,000 m2 of storage and office area. The parties have agreed to keep the purchase price confidential.
The "Henderson German Logistics Fund" was created by Henderson Global Investors and Palmira Capital Partners with a target volume of 250 million euros. It is aimed at institutional investors and invests in existing and easily lettable logistics real estate. Having already acquired two logistics centres in Bad Dürkheim and in the Hamburg area, the purchase of the Herrenberg logistics park represents the fund’s third acquisition in a sought-after logistics location within a short period of time.
The vendor of the logistics park is the Asset Manager Industrial Securities Europe (IS), an international property company with five locations in Europe. The operating areas of IS include, in particular, property acquisition, project development and property management of logistics, warehousing, industrial, commercial and industrial properties.
The fund was once again advised by the Frankfurt real estate team led by Thomas Schroiff (lead partner), Dr Bettina Schmitt-Rady, Andrea Torka (all partners), Dr Magnus Dorweiler (associate partner) and Bettina Buddenberg (associate).
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