GPT Halverton buys light industrial asset portfolio for EUR 32m

GPT Halverton said it has acquired a portfolio of light industrial assets in North Rhine-Westphalia, Germany for its EB8 logistics fund, for EUR 32.2 mln. In total, GPT Halverton acquired five properties at two sites, totalling 82,500 m[sup]2[/sup] of net lettable area, in the towns of Loehne and Bad Oeynhauses. About 78,660 m[sup]2[/sup] of the total comprises warehouse space and 3,860 m[sup]2[/sup] ancillary office and storage space. Four buildings representing the vast majority of the lettable area acquired are located at the Loehne, Dieselstrasse site. All of these buildings are let to Hermes Logistics, a subsidiary of the Otto Group, one of Europe’s largest mail-order companies. The Loehne site also has additional development potential, with provisional consent to develop an additional 10,000 m[sup]2[/sup] of warehouse space to allow for further logistics growth on the site.

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