Clarion Partners Europe acquires two core German distribution warehouses

Clarion Partners Europe has acquired, on behalf of one of its commingled funds, two class A distribution warehouses in Germany from funds advised by Ekistics Property Advisors. The financial terms were not disclosed.

“Adding these modern and sustainable properties, in strategically relevant locations and let to extremely strong counterparties, significantly strengthens our footprint in what is Europe’s most exciting logistics market,” said Thorben Schaefer, director of Clarion Partners Europe. “Both are tenant-critical assets serving as major distribution hubs and demonstrate our proven ability to originate and execute on investments despite increasing competition from different capital sources for exposure to the sector.”

In Fritzlar, near Kassel, Clarion has acquired a 50,000-square-meter (538,200-square-foot) institutional-quality logistics asset. Completed at the end of 2019, the DGNB Gold certified property features 20 dock doors, 10-meter (33-foot) clea