Logistics real estate fund manager Clarion Partners Europe has boosted its German presence with the acquisition of a 100,000 m2 warehouse in Dieburg, near Frankfurt.
The property was purchased from German investment manager Union Investment, for one of Clarion's co-mingled funds.
The Hamburg-based investment manager held the property in the portfolio of one of its open-ended funds for 10 years. At the time of construction, the project was valued at €50-60 mln.
Completed in 2015, the fully generic warehouse is leased to a subsidiary of Fiege Logistik Stiftung & Co. KG and serves as a key operations center for tire supplier Pirelli, with the capacity to store up to two million tires.
Aligned with Clarion Partners Europe's commitment to sustainable real estate, the property is DNGB Platinum certified, featuring LED lighting and solar panels.
Thorben Schaefer, senior director at Clarion Partners Europe, commented: ‘This was a rare opportunity to acquire a highly sustainable, mission-critical asset, in a prime European logistics location. Benefitting from excellent transport connectivity and access to over 10 million people within a 100-kilometre radius, it represents another excellent addition to our portfolio.’
Rory Buck, managing director, Clarion Partners Europe, added: ‘As wider market fundamentals improve heading into 2025, our deal execution track record and deep local market relationships will be increasingly key to maintaining our deployment momentum. The investment case for select German markets remains highly compelling, with a lack of new development and increasing bifurcation between sustainable and technologically-enabled space and everything else.’
Dieburg is located just 30 minutes from Frankfurt, a major European logistics hub and primary focal point for the Rhine-Main metropolitan region, and Frankfurt Airport, the second-largest freight terminal in the EU. It also benefits from convenient rail and arterial connectivity.
Clarion Partners Europe was advised by Colliers, Goodwin Procter, and CBRE.
Together, Clarion Partners and Clarion Partners Europe manage a real estate portfolio comprising over 23 million m2 across more than 1,000 individual properties in the United States and Europe.
