A joint venture of JP Morgan Asset Management and Sydneylisted Cromwell Property Group has sealed the acquisition of the fully leased Panattoni Park Hamburg from developer Panattoni and investor Kajima in a deal said to be worth just under €100 million.
Panattoni delivered the asset in the fourth quarter of last year. Located to the north of Hamburg in one of the strongest economic regions in Germany, the park consists of five halls plus externally leased parking spaces totalling 80,163 square metres with ‘Gold certification’ from the German Sustainable Building Council (DGNB) in recognition of its sustainable, energy-efficient design.
The logistics park is located on a 157,900 square metres site and comprises 70,000 square metres of prime logistics space. The logistics park has been fully let with online retailer Amazon and furniture designer Riess-Ambiente among the tenants.
Source: propertyeu.info on the 2nd of February 2023
https://propertyeu.info/Nieuws/JP-Morgan-and-Cromwell-pick-up-major-Hamburg-logistics-park/f471c11f-1ad4-4a7e-b539-3ffc31f84f77