- Acquired asset is earmarked for the club fund "Investoren-Club-Fonds German Logistics" (ICF GLog) administrated by 2IP
- Located near Heilbronn, the property measures around 16,500 square metres
- Modern logistics centre with excellent transport links
TH Real Estate and Palmira Capital Partners acquired a logistics asset located in Öhringen near Heilbronn in southern Germany for the portfolio of the club fund "Investoren-Club-Fonds German Logistics" (ICF GLog). The vendor was Panattoni Europe, a full-service developer of, and investor in, logistics and industrial real estate. The consultancy firm Logivest GmbH in Stuttgart acted as broker.
The property extends over a floor area of 16,500 square metres on a plot of 34,800 square metres that is part of the "Galgenfeld II" trading estate in Öhringen, right next to the A6 motorway. The tenant is Dachser SE.
"The property with its highly convenient motorway access stands out because of its modern fit-out and its high degree of functionality. We expect this investment to produce a high long-term dividend yield," said Thorsten Kiel, Head of Logistics Europe and Fund Manager of the ICF GLog at TH Real Estate.
Fred-Markus Bohne, Managing Partner at Panattoni Europe, added: "There are few modern logistics properties in the region of comparable size and standard. We are pleased that TH Real Estate and Palmira helped us once again by bringing the sale of this attractive asset to a swift conclusion."
The acquisition of the logistics centre in Öhringen is already the seventh asset that was jointly acquired by TH Real Estate and Palmira Capital Partners on behalf of the ICF GLog. The two companies act as the asset manager of the fund, which is administrated by the AIF management company (KVG) Institutional Investment Partners (2IP) on behalf of an investor club. The ICF GLog invests primarily in high-end logistics properties in Germany that are marked by a sustainable quality of location. The law firm Graf von Westphalen (Frankfurt) provided legal counsel to the buyer, whereas REAG conducted the pre-acquisition audit.
About TH Real Estate
TH Real Estate is an established investment management company specialising in real estate equity and debt investing worldwide. As one of the largest real estate managers in the world, TH Real Estate has the scale, capital resources and knowledge to provide creative and effective real estate investment solutions for clients. With a focus on the retail, office, logistics, debt and residential sectors, TH Real Estate emphasises sustainable practices to protect assets and maximise their value. The company is owned by TIAA-CREF, a US financial services and Fortune 100 company, with €744bn assets under management.* Launched in April 2014, TH Real Estate has a dedicated global presence with offices across America, Asia and Europe, representing c. €26.5bn of real estate assets across c. 50 funds and mandates. Together with TIAA-CREF's US real estate assets, the global real estate platform of €79.4bn represents one of the largest real estate investment management enterprises in the world. Its products are managed by specialist teams, which apply their own experience to the management and style of their portfolios. Each team is supported by an experienced senior management team and integrated investment platform, including finance, debt and currency management, performance analytics, client service, fund and transaction structuring, development, sustainability and research.