Clarion Partners Europe acquires Panattoni logistics park in Germany for €75m

Clarion Partners Europe, the real estate investment fund manager specializing in logistics and industrial assets, has acquired the recently developed Panattoni Logistics Park in Voerde, Germany, for €75 million ($80 million) from Panattoni.

Totaling 66,930 square meters (720,430 square feet) of gross leasable area across two class A properties, the investment has been made on behalf of one of Clarion Partners Europe’s commingled funds, and takes its deployment in continental Europe’s dominant logistics market since June last year to around €500 million ($533 million).

Developed by Panattoni between 2021 and 2023, the DGNB Gold certified properties are currently split into six units and 100 percent occupied by Flender GmbH, WM Group GmbH and MTDE GmbH, with a blended weighted average lease balance of seven years.

The development saw the regeneration of a 112,000-square-meter (1.2 million-square-foot) brownfield site, representing one of the largest projec