Palmira Capital Partners has made its first investment acquisition for the European Core Logistics Fund (ECLF). The vendor was Meir Logistik Center GmbH. The financial terms were not disclosed.
The property is a last-mile main transhipment base in Linz-Hörsching, Austria, for DHL Express. Standing on a site of around 36,000 square meters (387,500 square feet), the building provides a lettable area of approximately 9,000 square meters (96,875 square feet), including some 7,000 square meters (75,347 square feet) of logistics space and 2,000 square meters (21,528 square feet) of office accommodation. The property is fully leased for around seven years. Situated at Flughafenstrasse 3, the asset has a direct link to the apron of Linz Airport.
ECLF, which as a pan-European fund is aimed at institutional investors, has a target equity capital volume of at least €350 million ($428 million) and a total investment volume of approximately €650 million ($795 million).
