An open-ended special fund managed by the Swiss UBS Real Estate is selling a portfolio of 11 German logistics properties to Prologis. The buildings are spread over a total of 600,000 square meters (6.5 million square feet) of land and include both turnkey buildings and new development opportunities. Terms of the transaction were not disclosed.
The buildings are located in Rhine-Ruhr, Berlin, Rhine-Main, Rhine-Neckar, Hannover, Ulm and Regensburg.
“Germany is a growing market, and this acquisition allows us to better serve both existing and future customers,” said Björn Thiemann, senior vice president, country manager, Prologis Germany. “Importantly, most of the properties are in urban infill locations, which helps our customers be that much closer to the end consumer.”
