23/05/2019 <br> GREENOAK AND APEIRON ENTER THE GERMAN LOGISTICS MARKET WITH 340,000 SQM PORTFOLIO ACQUISITION
LONDON | BERLIN –
- GreenOak and Apeiron acquire three logistics properties in Germany leased to leading automotive and e-commerce tenants in a joint venture with Korean investors
- Demonstrates GreenOak’s continued conviction for Europe’s logistics sector and Apeiron’s continued commitment to German real estate
- To date, GreenOak has acquired 2.8 million square meters of logistics assets across France, Germany, Spain, Italy, Belgium, and the Netherlands
London, 23 May 2019: GreenOak Real Estate, in partnership with Apeiron, announces the purchase of a 340,000 sqm German logistics portfolio, as part of its strategy to acquire assets in Europe’s key logistics nodes. The investment was made in a joint venture with Hana Financial Investment and Tiger Alternative Investors.
The portfolio consists of three large warehouse properties with average size over 110,000 sqm, located in established logistics/industrial areas near Munich, Karlsruhe, and Dortmund. The assets are fully leased on long-term leases to German blue-chip companies including the BMW Group, providing mission critical support for just-in-time production and national/global distribution.
The investment represents GreenOak’s entry into the German market, further expanding an investment program focused on the European logistics sector which over the past five years has acquired approximately 2.8 million sqm of assets. The platform consists primarily of large, modern facilities, leased to a diversified list of tenants. Locations include key gateway logistics nodes and capital cities of Europe, such as Paris, Munich, Madrid, Milan, Brussels and Venlo.
Earlier in 2019, GreenOak entered the Belgian market, acquiring two logistics properties totaling approximately 100,000 sqm, through separate transactions. The assets, fully leased to tenants including Carrefour, are located in established logistics areas near Brussels and the Dutch border. GreenOak has recently also acquired 14 logistics assets in France, Spain, and the Netherlands comprising approximately 340,000 sqm.
This investment follows Apeiron’s past logistics investments in Germany and adds to deals by the company within Germany where it has transacted close to €900 million in value over the last twelve months.
John Carrafiell, co-founder of GreenOak commented, “Benefiting from a central location in Europe, a robust economy, low vacancy, and significant supply constraints, the German logistics market is well positioned for continued strong performance. Large, modern and well-located logistics facilities are the key real estate asset for today’s economy. With continental Europe lagging behind the USA and the UK in the provision of these facilities, the fundamentals driving occupier demand are strong. GreenOak’s significant presence across continental Europe’s largest economies positions our platform well as a leading investor and developer in the sector.”
Vojkan Brankovic, founder of Apeiron commented,“This is a really exciting time for German real estate but in particular for the German logistics sector. Changing consumer habits are driving the exceptional growth of this real estate sub-sector and presenting some excellent investment opportunities for those looking for long term stable cash flows. We are extremely pleased to be partnering with GreenOak on this transaction and look forward to working with them on behalf of our new tenants.”
GreenOak Real Estate is an independent, partner owned, real estate focused principal investing and lending firm that seeks to create long-term value for its clients and investors.
Since 2011, GreenOak has raised $10 billion of discretionary equity from institutional investors for real estate equity investment and lending in Europe, the US and Asia, and has acquired approximately $14 billion of assets, with approximately $11 billion of gross assets under management currently.
GreenOak has offices in London, Luxembourg, Paris, Madrid, Milan, New York, Los Angeles, Tokyo, Seoul and Mumbai, with over 100 professionals in dedicated local teams having local knowledge, experience and extensive networks in each market.
Apeiron is an independent real estate investment and asset management firm dedicated to real estate opportunities in Europe with a particular focus on the UK and German real estate market, with offices in London, Munich and Luxembourg. Its property investments are owned together with capital partners, consisting primarily of leading pension funds, sovereign wealth funds, and financial institutions.
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