Carlyle and Montano to invest in German urban logistics market

Carlyle and Montano Real Estate have formed a joint partnership to invest in logistics properties with a focus on distribution assets in prime urban locations in Germany.

Under the terms of the new partnership, Montano will take control of the asset management of Carlyle’s existing 12 distribution logistics properties across Germany, which were acquired by Carlyle through European Carlyle Europe Realty (CER), a €540 million ($627 million) pan-European real estate fund. Montano will work together with Carlyle to further grow the portfolio on behalf of the discretionary fund managed by CER. The partnership will predominantly focus on logistics assets in German cities with strong demographic and economic fundamentals. Carlyle and Montano will look to add value by implementing active asset management and leasing strategy, including refurbishments and selective repositionings. The partnership aims to grow the overall portfolio to €500 million ($581 million) over the coming