Clarion Partners Europe, the real estate investment manager specialising in European logistics/ industrial assets and sale-leasebacks, has acquired a 41,000 sqm modern logistics facility in Dürrholz, western Germany on behalf of one of its commingled funds.
Completed in phases between 2006 and 2019, the single-tenant property is occupied by Best4Tires, a leading European B2B tyre distributor, on a long-term lease. The facility serves as Best4Tires' primary German storage and distribution facility. Features include LED lighting throughout and a BREEAM “Very Good" rating.
The property is located in the wider Koblenz market, within a short drive from the A3 highway, which connects two of Europe's largest economic areas – Rhein-Ruhr and Rhine-Main. With a total population of 16.4 million people accessible within a 90-minute drive, the property is well-suited to large-scale regional and national distributors.
Clarion Partners Europe has deployed over €890 million into the German logistics market in the last 36 months on behalf of its commingled funds.
Neli Mihova, Vice President, Clarion Partners Europe, commented: “This was a rare opportunity to acquire a mission-critical asset in one of our key markets. The property is a functional logistics facility leased to a resilient occupier."
Thorben Schaefer, Managing Director, Clarion Partners Europe, added: “We have high conviction in our long income programme, which offers long-dated, inflation-linked cash flows and a strong defensive profile. We anticipate that ongoing macro uncertainty will present further acquisition opportunities across a number of sectors."
Clarion was advised by Eversheds and Gleeds. Vendor was advised by Logivest.