Savills Investment Management sells prime logistics property in Germany

Savills Investment Management has sold a prime logistics property in Germany to Ofi Invest Real Estate, the real estate arm of Ofi Invest, the fifth-largest French asset management group. Financial terms were not disclosed.

Located in Gerlinden’s industrial park near Munich, the logistics asset was completed in 2012 and offers modern class A specifications with more than 21,700 square meters (233,580 square feet) of leasable space. It is fully leased to its historical tenant and benefits from accessibility via public transportation.

The transaction marks Ofi Invest Real Estate’s first logistics investment in Germany.

“We acquired the Maisach asset for our pan-European fund in 2013,” said Norbert Stangelmayer, director, fund management at Savills Investment Management. “The asset benefits from a stable distribution, a long-term tenant, high ESG credentials and an excellent location. With this disposal, we have taken advantage of the sustained demand for