Allianz Real Estate has added a premier facility in Polch, Germany to its European logistics portfolio.
The manager said it acquired the pre-leased MultiBusinessHub Mittelrhein from developer Lang & Cie Industrial under a forward purchase agreement.
Financial details were not disclosed.
The facility, which is located between the Cologne and Bonn metropolitan areas, comprises six warehouses, each with a net leasable area of 10,000 m². The installation is expected to be completed in 2024.
Nicole Pötsch, Head of Investments and Strategic Development for Northern and Central Europe at Allianz Real Estate, said: “This off-market deal represents a rare opportunity to add a newly built prime logistics asset to the market. high-growth German company to our development of the logistics portfolio.
“Logistics continues to be a high conviction theme for us due to the resilience of the sector and the attractiveness of its long-term returns and we are particularly attracted to the sustainability features of this facility.”
The latest acquisition follows other notable logistics deals Allianz Real Estate has concluded so far this year, including a joint venture with VGP to develop a portfolio of prime assets in Germany, Czech Republic, Hungary and in Slovakia; the acquisition of a portfolio of three assets in the Nordic countries; the acquisition of a new 70,000 m² site in Norrköping, Sweden; and a seven-year refinancing facility to Intospace for a portfolio of six assets in the Netherlands.
The manager has a global logistics portfolio worth 13.9 billion euros, including 7.1 billion euros in Europe.
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