Tritax EuroBox invests €291m in German logistics market

Tritax EuroBox has agreed to purchase two assets in Germany for a total consideration of €290.9 million ($342 million), excluding acquisition costs. The two transactions are structured as share deals.

The company agreed to acquire the freehold interest in a highly sustainable recently built logistics property in the Nuremberg region of Bavaria. This highly specified logistics building is the European distribution headquarters of a leading German sportswear manufacturer strategically located in central southern Germany close to Nuremberg on the A3 motorway toward Frankfurt and close to the tenant’s headquarters. The property is leased for a further 14 years, benefiting from indexation to 100 percent of the German CPI index following a four-year indexation holiday from the start of the lease. The 20-hectare site comes with extension potential for an additional 42,000 square meters (452,000 square feet) of floor space.

Tritax EuroBox has also acquired a purpose-built