KanAm Grund's Leading Cities invest fund (LCI) has acquired a portfolio of six logistics centres in northern and central Germany for an undisclosed sum.
'Considering the increase in online trade, logistics properties in central locations are gaining more and more importance,' KanAm said in a statement.
The assets are all located near or within conurbations including Kiel/Hamburg, Bochum and Leipzig and are under long-term lease, KanAm said. They form part of a branch network of a European market leader in the B2B vehicle parts trade.
KanAm said it was using the portfolio to diversify its open-ended real estate fund LCI both in terms of usage types as well as location. It described the light industrial portfolio as a 'core plus' investment.
Alongside these six logistics properties in Germany, LCI currently holds investments in 16 other properties within nine cities throughout four countries with various usage types. Locations include the German cities of Munich (2x), Frankfurt, Hamburg and Dresden, as well as the European capitals of Paris, Brussels, London and Edinburgh.
More recently, the LCI further diversified geographically with an investment in Toulouse.