Elite Partners Capital acquires logistic centre in Germany
The location spans around 1.94 million sq ft. More than 85% of the real estate’s net lettable space is presently dweller to a vehicle titan on a lengthy lease, acting as their worldwide logistics center.
Elite Partners Capital plans to enhance the facility’s environmental, social and governance (ESG) requirements, and anticipates to attain the DGNB Gold Qualification– the qualification granted by Germany’s eco friendly building committee.
Elite Partners Capital, a Singapore-based different financial investment management company, has obtained an international logistics center situated within Ettlingen West’s Industrial Zone, Germany. The massive multi-user logistics place is near to Stuttgart, the automobile capital of Germany.
The asset was sold by a shared investing between global alternative investment management 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.
In a June 27 news release, the business states that the site was obtained by means of the company’s flagship Elite Logistics Fund II. The Pan-European logistics fund is backed by a sovereign wealth fund, together with a connection of family workplaces throughout Asia.
The industrialized zone is served by lots of commuter options, providing straight connections to various motorways, easy access to the Port of Karlsruhe– a significant inland port along the Rhine waterway, as well as distance to major global airports in Frankfurt and Stuttgart.
Victor Song, co-founder and CEO of Elite Partners Capital, claims that the stabilising rates of interest presents a tactical window of option for investors to come back the market.
