Clarion Partners Europe acquires German logistics portfolio for €264m

Clarion Partners Europe has acquired a portfolio of five modern, institutional-quality logistics properties across Germany, totaling 251,793 square meters (2.7 million square feet) for €264 million ($292 million). The portfolio was acquired from funds managed by Blackstone.

The portfolio consists of five modern, class A logistics assets with strong ESG credentials:

A 123,360-square-meter (1.33 million-square-foot) property in Huckelhoven, in the densely populated North Rhine-Westphalia The property has a DGNB Gold certification and is fully let to global logistics provider Rhenus. A 46,358-square-meter (498,993-square-foot) property in Waldlaubersheim, 74 kilometers (46 miles) west of Frankfurt. The property is fully let to Pan-European 3PL provider Pfenning Logistics. A 45,198-square-meter (486,507-square-foot) property in Hamm, in the northeastern Ruhr area. The property has a DGNB Gold certification and is fully let to DIY retailer Hellweg