Elite Partners Capital acquires logistic centre in Germany
The industrialized zone is served by several commuter alternatives, providing straight links to different motorways, connectivity to the Port of Karlsruhe– a major inland port along the Rhine river, along with closeness to key global airport terminals in Frankfurt and Stuttgart.
The asset was sold by a shared venture between worldwide alternative financial investment management firm TPG Angelo Gordon and Germany-based investment and property management company aam2core Holding. The deal was agented by CBRE’s capital markets team in Germany.
Elite Partners Capital prepares to improve the centre’s environmental, social and governance (ESG) requirements, and anticipates to attain the DGNB Gold Accreditation– the certification granted by Germany’s sustainable building council.
Victor Song, co-founder and CEO of Elite Partners Capital, says that the securing interest rates provides a strategic window of opportunity for financiers to return to the marketplace.
In a June 27 press release, the firm claims that the place was acquired by means of the firm’s main Elite Logistics Fund II. The Pan-European logistics budget is supported by a sovereign wealth fund, along with a network of family group offices across Asia.
Elite Partners Capital, a Singapore-based alternative financial investment management business, has gotten an international logistics center located in Ettlingen West’s Industrial Zone, Germany. The large multi-user logistics park is near to Stuttgart, the automobile capital of Germany.
The site spans about 1.94 million sq ft. Greater than 85% of the commercial property’s net lettable space is currently tenanted to an auto giant on a prolonged contract, acting as their worldwide logistics facility.