Values Real Estate, a German real estate investment manager, has acquired a two-part logistics hall in Wörnitz, Middle Franconia, near Nuremberg, for its logistics real estate fund.
The property, known as Panattoni Park Mittelfranken, was acquired from a joint venture between project developer Panattoni Germany and PGIM Real Estate for an undisclosed sum. The purchase was brokered by Colliers International Deutschland.
The logistics asset is DGNB Gold certified with solar panels and natural-looking green façades.
It has a rentable area of 46,000 m2 across two halls, of which 40,400 m2 of logistics space, 1,920 m2 of office space, and 3,850 m2 of storage space, on a site of 81,000 m2.
Panattoni completed the property in April of this year, and the sole long-term tenant is a global white goods retailer.
Sonja Ebeling, managing partner, Values Industrial, a subsidiary of the Values Real Estate group of companies, said: ‘The property is located on the central east-west and north-south transport routes in Germany and Europe. The property thus contributes to the fund's further geographical diversification. Their 24/7 usage permit and the multi-user capability of the hall ensemble round off the attractiveness of the investment.’
Panattoni Park Mittelfranken is located at the intersection of the A7 and A6 motorways, with transport routes fanning out in all directions.
Values Real Estate was assisted by Drees & Sommer, Reius, and Heuking Kühn Lüer Wojtek, while the seller was represented by the law firm Clifford Chance.
The Values logistics real estate fund targets logistics and light industrial properties in key A and B locations near transportation hubs in German regions with strong industrial clusters.