German logistics investor LIP Invest has clinched the eleventh deal for its open real estate special alternative investment fund, LIP Real Estate Investment Fund – Logistics Germany.
Financial details were not disclosed.
The asset, a parcel distribution warehouse in the centre of Braunschweig, comprises some 5,000 m2 of hall and office space, plus 80 parking spaces for trucks, vans and cars. It is located by the main station in the city.
It has been used as a delivery base since its construction in 2012 by Deutsche Post, which remains at the property on a long-term lease. The seller of the real estate is a large German pension fund.
Bodo Hollung, partner and managing director of LIP Invest said: 'We are pleased that, with the purchase of this parcel distribution centre, we can continue to diversify our fund.
'Following the acquisition of the Hermes fulfilment centre in Haldensleben, we are able to meet the needs of the booming e-commerce sector at fund level as well.'
NAI Apollo Frankfurt brokered the deal on behalf of the seller.
LIP received legal advice from SNP Schlawien, tax advice from Mazars and technical support from Gleeds for the deal.