French public-service pension scheme ERAFP has invested an undisclosed sum to buy a logistics warehouse in Germany.
, which made the investment on behalf of the 鈧�39bn civil servants鈥� scheme, said it has bought the 37,800sqm asset in the Gro脽beeren freight hub, located outside Berlin from .
The Gro脽beeren warehouse was constructed in 2014.
Andreas Wesner, the head of transactions in northern continental Europe at LaSalle Investment Management, said: 鈥淲e are pleased to be acquiring the Gro脽beeren logistics warehouse on behalf of our client, further enhancing our exposure to high-quality logistics assets and securing a driver of reliable long-term rental income.
鈥淭he combination of this state-of-the-art asset and its prime location, alongside a buoyant logistics market serving a thriving metropolitan area, marks this acquisition out as a particularly exciting addition to the portfolio.鈥�
Mathias Malzbender, head of continental European separate accounts at LaSalle Investment Management, said the acquisition fits the long-standing client鈥檚 investment strategy of targeting prime logistics assets in Europe and further improves the portfolio鈥檚 diversification.
鈥淭he combination of state-of-the-art building specifications with one of the most established and versatile logistic locations in Germany makes this investment particularly appealing.
鈥淭he asset provides long-term stable income as well as embedded upside potential and offers the opportunity to further improve its sustainability profile, which is key to our client and to LaSalle.鈥�
Deka Immobilien has also announced buying the An der Anhalterbahn 6 warehouse asset in Gro脽beeren from Invesco Real Estate for an undisclosed amount. The fully-let centre was constructed in two stages, in 2015 and 2017, and offers around 91,500sqm of space.
Deka said the asset was acquired for Deka-ImmobilienMetropolen, an open-ended real estate fund.
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