Baytree acquires logistics development in Germany
Baytree Logistics Properties has secured a strategic development site in Magdeburg, Germany, on behalf of clients of AXA Investment Managers – Real Assets.
Located in Magdeburg’s industrial zone near the A2 and A14 motorways, the site benefits from road and rail access nearby, and is in close proximity to the multi-modal port of GVZ Magdeburg.
The site has a total area of 125,000 square meters (1.3 million square feet) and Baytree plans to develop up to 57,500 square meters (618,924 square feet) of class A logistics space for either single or multiple occupiers.
The acquisition follows the previous acquisitions of development sites in Hannover and Leipzig.
In the past year, the firm has commenced four build-to-suit developments, totaling 150,000 square meters (1.6 million square feet), in France and Germany. Baytree also secured new projects along strategic logistics corridors in France, Germany and the United Kingdom, where clear demand has been iden