Episo 6, a fund managed by Tristan Capital Partners, and joint venture partner Scantum DW, have acquired the first assets within its new logistics platform in Germany.
Financial details were not disclosed.
The two assets, located in Glauchau and Zwickau, together comprise 92,000 m2 of warehouse space within the Zwickau automotive region in Saxony, the established hub of German e-mobility. Both the assets (Glauchau 45,000 m2 and Zwickau 47,000 m2) are let to blue chip tenant VW and renowned logistics service provider Schnellecke. The assets were acquired from the tenant, Schnellecke.
The deal forms part of a wider roll-up strategy to form a logistics and light industrial platform of around €300 mln through the aggregation of well-located single or multi-let assets.
Constantin Plenge, managing director at Tristan Capital Partners, said: 'The Platform’s geographic focus during Phase I is on Germany’s established, strategic logistic hubs countrywide, with strong suitability for industrial real estate and ESG credentials. We intend to follow this acquisition with further investments in the European logistics sector, through sale and leasebacks, forward purchases, vacant possessions, and mid-market transactions, as we believe that that the long-term appeal for these assets will continue to grow.'
Vincent Schneider, managing director at Scantum DW, added: 'This is great start to our joint platform with Tristan. We are also looking forward to work our tenants to further improve the asset and create a facility that meets today’s ESG criteria.'
Episo 6 and DW Scantum were advised by GT, PWC, CBRE Valteq and BNP.