Carlyle acquires prime German distribution logistics assets

The Carlyle Group has acquired a portfolio of three distribution logistics assets in Germany from Nuveen Real Estate and Palmira.

The portfolio comprises three high-quality assets strategically located near the major urban and trade areas of Munich, Hanover and Ulm, Germany. In aggregate, the portfolio totals 51,800 square meters (557,570 square feet) of space and is 100 percent occupied.

Equity for the transaction came from Carlyle Europe Realty (CER), a €540 million ($661 million) pan-European real estate fund. In October 2020, CER acquired a portfolio of 27 distribution logistics assets in France and Germany. The January 2021 announcement represents the platform’s first add-on acquisition. The additional assets strategically complement the existing portfolio and significantly increase the platform’s footprint in the German urban logistics segment.

The European logistics space has been a key focus for CER since 2016. While the sector has enjoyed rapid gr