Madison International Realty, StoneVest acquire light industrial property in Berlin

A joint venture between Zurich-based investment and asset manager StoneVest AG and an entity managed by Madison International Realty, a liquidity provider to real estate investors worldwide, have acquired a light industrial property south of Berlin from KWC Aquarotter GmbH, a leading provider of sanitary fittings for public facilities.

The asset, which comprises 15,500 square meter (166,800 square feet) of warehouse and office space, has been acquired via a sale-leaseback transaction, with KWC Aquarotter signing a long-term lease, over 15 years, as part of the agreement.

The acquisition is the latest deal for the joint venture and aims to purchase up to €150 million ($161 million) of light industrial and logistics properties over the next three years. The joint venture is focused on sale and sale-leaseback deals on new and existing properties valued between €10 million and €50 million ($11 million and $54 million) in Germany, Austria and Switzerland within import