Financial details were not disclosed.

The assets are located in Rhineland-Palatinate, Hesse and Bavaria.

The firm acquired an eight-property office park, dubbed the Wissenschaftsparkm in Trier, Rhineland-Palatinate. Covering some 27,700 m2, the asset in virtually fully let to over 80 tenants, including the University of Trier and the Federal Institute for Real Estate. The vendor of the property is a company in the Saarbrucken-based Munitor Group.

In Kassel, northern Hesse, the Schmidtsche Schack/Arvos production property was acquired in a sale-and-lease-back deal. Providing around 18,900 m2 of lettable space, the property comprises office, warehouse and production space and is let for 15-years on a long-term basis. The asset represents the HQ of the over-100-year-old company, which is one of the world's leading manufacturers of heat transfer solutions.

The firm also purchased a multi-tenant commercial park in Puchheim, to the west of Munich, Bavaria, from a property company owned by S Immo. The Ikaruspark, immediately adjoining the Munich motorway ring, provides some 14,500 m2 of office and storage space. It is almost fully let to over 30 occupiers in a range of sectors.

Now comprising eleven properties, the UIC 2 portfolio currently amounts to over €220 mln in assets. Despite the challenging market environment, UIC 2, which was only launched in 2021, has already exceeded the volume of its fully invested predecessor fund in less than 24 months.

Palmira was advised on the legal and taxation issues of the transaction by Dentons, Dusseldorf and Munich, and on the environmental aspects by Nova Ambiente of Cologne. Technical and ESG consultancy was provided by CBRE, Frankfurt.

The transactions were brokered by laren consulting real estate GmbH, Kiel, (Trier property), Swiss Real Estate Capital AG, Zurich, (Kassel property) and by NAI Apollo, Frankfurt/ Munich (Puchheim property).