PGIM Real Estate has acquired five logistics assets in Germany on behalf of the investors in its European core strategy: Cargo City South, a logistics and office property near Frankfurt Airport, as well as a portfolio of four logistics properties in the Berlin metropolitan area.
“With these acquisitions, we have achieved our aim of allocating a high proportion of the fund’s assets to logistics,” said Thomas Kallenbrunnen, senior portfolio manager for PGIM Real Estate’s European core strategy. “The transactions play to our defensive investment philosophy regarding the European market and support our aim to deliver long-term outperformance with low volatility through cashflow diversification. The proximity of the assets to major consumer hubs increases the already high resilience of our portfolio in the current COVID-19 induced market uncertainty.”
With almost 8,000 square meters (86,000 square feet) of rental space, Cargo City South is located next to the ne
