Goodwin's German Real Estate and Luxembourg Private Equity team advised Clarion Partners Europe ("Clarion"), a real estate fund manager specializing in logistics and industrial real estate, on the acquisition of a portfolio of five prime logistics properties in Germany.
The fully-let logistics properties with a total lettable area of around 252,000 sqm were acquired from funds managed by Blackstone for a purchase price of approx. EUR 264 m.
The portfolio includes 123,360 sqm and 21,818 sqm logistics properties in Hückelhoven and Linsengericht near Frankfurt, respectively, each let to global logistics operator Rhenus, and a 46,358 sqm logistics property in Waldlaubersheim (let to Pfenning Logistics), a 45,198 sqm logistics property in Hamm (let to Hellweg) and a 15,059 sqm logistics property in Schwäbisch Gmünd (let to Bosch). The completion of the transaction takes Clarion's capital deployment to a total of EUR 428 m since March this year.
The Goodwin Team consisted of Peter Junghänel, Gleb Lidman, Felix Weber (all Real Estate, Frankfurt), Jochen Schnepper (Finance, Frankfurt), Alexandrine Armstrong-Cerfontaine, Oana Millich, and Elie-Raphaël Soudry (all Private Equity, Luxembourg).