Elite Partners Capital acquires logistic centre in Germany
In a June 27 press release, the business says that the area was acquired by means of the company’s flagship Elite Logistics Fund II. The Pan-European logistics fund is supported by a sovereign assets fund, together with a network of family group offices across Asia.
The site extends approximately 1.94 million sq ft. More than 85% of the real estate’s net lettable area is presently tenanted to an auto titan on a prolonged rental, acting as their worldwide logistics centre.
Elite Partners Capital plans to enhance the centre’s environmental, social and governance (ESG) requirements, and anticipates to acquire the DGNB Gold Certification– the qualification awarded by Germany’s eco friendly building committee.
The industrialized zone is served by numerous commuter choices, offering straight connections to numerous freeways, accessibility to the Port of Karlsruhe– a significant inland port around the Rhine river, as well as distance to primary international airport terminals in Frankfurt and Stuttgart.
Elite Partners Capital, a Singapore-based alternative investment management firm, has actually acquired an international logistics hub situated within Ettlingen West’s Industrial Zone, Germany. The large-scale multi-user logistics park is near to Stuttgart, the automotive capital of Germany.
Victor Song, co-founder and CEO of Elite Partners Capital, states that the securing lending rates provides a strategic window of option for capitalists to return to the marketplace.
The asset was marketed by a shared venture between international alternative financial investment organization company TPG Angelo Gordon and Germany-based investment and property management firm aam2core Holding. The purchase was agented by CBRE’s capital markets team in Germany.
