Frasers expands European logistics footprint
Frasers Property has purchased a portfolio of 22 industrial properties in Germany and Austria for $353 million.
The seller was Alpha Industrial, a German builder of commercial, manufacturing and logistics space
The assets include 16 completed logistics and light industrial facilities, with a combined gross leasable area of 4.2 million square feet, that are located in key industrial and logistics hubs in Germany and Austria. The remaining six assets are logistical projects as development, totaling 1.7 million square feet.
Recently, Frasers acquired two warehouses in Germany for €42.4 million ($52.34 million). It will acquire 94.8 per cent each in Logipark Moosthenning GmbH and HJäger Ges für Projektentwicklung von Immobilien mbH, and 100 per cent of Simblafis GmbH.
And in September the property firm increased its stake percent stake in German industrial real estate investment firm Geneba Properties to 99.4 percent.
