Tristan Capital Partners has acquired two logistics units in Germany on behalf of the CCP III fund for more than €30m from Logis Fund.
The warehouses are in Hamburg’s harbour area and the German town Überherrn in the Saarland region. The Hamburg property is let to DHL and the asset in Überherrn is occupied by logistics provider Dachser. The properties provide a total space of 46,621 m2 plus 4,071 m2 of offices.
Cameron Spry, head of investments for Tristan Capital, said: “Logistics is increasingly becoming a mainstream property sector asset class for institutional investors, due to its attractive rental income yields relative to other sectors. The supply/demand picture for the logistics market in Europe is also very positive, especially for top locations such as these, due to a dearth of development in the past few years.”
CBRE, Garbe Logistic AG and Taylor Wessing advised on the transaction for the seller and Alpha Industrial and Mayer Brown for the buyer.
