-Since March 2023, Clarion Partners Europe has deployed or committed to deploy c. €960 million into high quality logistics assets across Europe and the UK-
Clarion Partners Europe, the real estate investment fund manager specialising in logistics and industrial assets, has entered into a contract to acquire a portfolio of eight modern logistics properties across Germany and the Netherlands, totalling c.241,400 sqm, for c. €270 million on behalf of one of its commingled funds. The portfolio was acquired from funds managed by Blackstone. Since March 2023, Clarion Partners Europe has deployed or committed to deploy c. €960 million into high quality European logistics assets.
The portfolio consists of six modern logistics assets in Germany and two similar assets in the Netherlands, which are close to major urban hubs and directly connected to major arterial routes:
- A 27,900 sqm property in Halle, 15km west of Leipzig. The property has a DGNB Gold certification and is fully let to an integrated e-commerce logistics and omnichannel technology provider.
- A 27,600 sqm institutional quality, Grade-A property, in Halle, adjacent to the above asset, which was completed in December 2023. It is targeting a BREEAM Very Good certification.
- A 21,600 sqm, fully let property in Dortmund, c.10-minutes' drive from the city centre, in the north-eastern Ruhr area.
- A 13,900 sqm, fully let property in Neunkirchen, c.30-minute drive from Saarbruecken.
- A 16,900 sqm property in Werne, in the Rhine-Ruhr region. The property has a DGNB Gold certification and is fully let to a subsidiary of a global pharmaceutical company.
- A 57,500 sqm fully let property in Eindhoven, the largest Dutch city outside the Randstadt conurbation.
- A 37,300 sqm property in Vianen, within the Utrecht metropolitan area, the Netherlands. The BREEAM Good, multi-tenanted property is leased to two logistics service providers.
Thorben Schaefer, Director at Clarion Partners Europe, commented: “This was a rare opportunity to acquire a significant Dutch and German portfolio of tenant critical logistics assets, all located within a short distance of major motorway networks and population centres. Alongside strong day one income, the portfolio provides meaningful reversionary potential. Leveraging our proven asset management capabilities to undertake a range of leasing and ESG-led capex initiatives will enable us to capture this upside and future-proof the portfolio."
Rory Buck, Managing Director, Clarion Partners Europe, added: “Germany and the Netherlands are logistics markets where we see significant opportunity given their favourable supply demand dynamics. Since Q1 last year we have accelerated our investment activity and over the course of 2023 committed to acquire approximately €1 billion of assets. With further significant capital to deploy, we are targeting a similar trajectory in 2024."
Clarion Partners Europe was advised by Goodwin Procter, Drees & Sommer, Deloitte and CBRE. Eastdil Secured acted as adviser to Blackstone.