Logicor to acquire 1 million sqm Germany & Central & Eastern Europe logistics portfolio
02 Nov 2015
Logicor, the largest owner of modern logistics facilities in Europe, announces the acquisition of a 1 million sqm portfolio of logistics assets in Germany and Central & Eastern Europe from IMMOFINANZ.
The portfolio comprises 36 assets, of which 24 are located in Germany, predominantly centred on the large cities of Dusseldorf, Hamburg, Munich and Frankfurt. The remaining assets are spread across countries in Central & Eastern Europe including Hungary, Romania, Poland and Slovakia and increases Logicor’s exposure to the region’s capital cities including Warsaw, Budapest and Bucharest.
This acquisition increases Logicor’s German asset base to 1.8 million sqm.
Mo Barzegar, CEO & President at Logicor said:
This acquisition supports Logicor’s growth strategy of expanding our customer offering by investing in key logistics locations across Europe. We will substantially increase our exposure to the strong German logistics market where solid take-up continues despite depressed supply of good quality logistics assets. We also grow our presence across several key logistics hubs in Central & Eastern Europe which continue to strengthen.