Fidelity International ("Fidelity") announces the acquisition of a logistics property of approximately 25,400 square meters for the newly launched 'Fidelity Real Estate Logistics Impact Climate Solutions Fund SCA SICAV-SIF' ("LOGICs"). The property was built in two phases in 1997 and 2017 and is located in the Wustermark commercial area west of Berlin providing strong transportation connections. The older part of the property is leased long-term to Schlau Großhandels GmbH & Co. KG. The newer part of the property, with approximately 18,800 square meters of rental space, will be available for leasing from mid-2025 after the implementation of the planned Manage-to-Green strategy of the fund. It offers ideal specifications with a clear ceiling height of 10.50 meters, 30 loading ramps on both sides of the property, a floor load capacity of 10 tons/metre squared, and a modern office component.
The transaction marks the first German acquisition for the pan-European logistics real estate fund, which was able to secure 200 million euros in capital commitments in Q1 2024. The fund focuses on the acquisition of existing properties with high potential for sustainable optimisations in established Western European markets aiming to create Net Zero Carbon-capable buildings through energy optimization measures that comply with the "BREEAM Very Good" or "Excellent" standards and achieve a good to very good EPC. This will involve particular investments in optimising the technical facilities, as well as the installation of air-source heat pumps, LED lighting systems, and photovoltaic systems.
Source: press release sent on the 21st of January 2025