Clarion Partners Europe, the real estate investment fund manager specialising in logistics and industrial assets, has acquired the recently developed Panattoni Logistics Park in Voerde, Germany, for c.€75 million, from Panattoni.
Totalling 66,930 square metres of gross lettable area across two Grade-A properties, the investment has been made on behalf of one Clarion Partners Europe’s co-mingled funds, and takes its deployment in Continental Europe’s dominant logistics market since June last year to around €500 million.
Developed by Panattoni between 2021 and 2023, the DGNB Gold¹ certified properties are currently split into six units and 100% occupied by Flender GmbH, WM Group GmbH and MTDE GmbH, with a blended WALB of 7 years.
The development saw the regeneration of a 112,000 square metres brownfield site, representing one of the largest projects of this type ever undertaken in the Lower Rhine region. The park’s environmental credentials will be further enhanced by the installation and completion of a PV system with a peak capacity of 6.86-megawatt by the end of 2024. The forecasted power generation of more than 5.8 million kilowatt hours per year will provide electricity for c. 2,300 two-person households.
Source: clarionpartners.com on the 18th of April, 2024
https://www.clarionpartners.com/news/cpe-voerde-germany