Elite Partners Capital acquires logistic centre in Germany

The area covers about 1.94 million sq ft. Greater than 85% of the real estate’s net lettable space is currently renter to an automobile giant on a lengthy contract, functioning as their global logistics center.

The investment was offered by a joint venture in between global alternative financial investment management corporation TPG Angelo Gordon and Germany-based investment and asset management firm aam2core Holding. The transaction was brokered by CBRE’s capital markets team in Germany.

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Elite Partners Capital, a Singapore-based different venture management business, has gotten a worldwide logistics center situated inside Ettlingen West’s Industrial Zone, Germany. The massive multi-user logistics park is near to Stuttgart, the automotive capital of Germany.

In a June 27 news release, the business states that the site was acquired by the firm’s main Elite Logistics Fund II. The Pan-European logistics fund is supported by a sovereign wealth fund, alongside a connection of family workplaces across Asia.

Elite Partners Capital intends to enhance the centre’s environmental, social and governance (ESG) requirements, and expects to achieve the DGNB Gold Certification– the certification awarded by Germany’s sustainable building council.

Victor Song, co-founder and chief executive officer of Elite Partners Capital, says that the stabilising lending rates presents a tactical window of chance for financiers to come back the market.

The industrialized zone is served by numerous commuter choices, offering direct connections to various freeways, accessibility to the Port of Karlsruhe– a major inland port around the Rhine river, as well as distance to primary international airport terminals in Frankfurt and Stuttgart.