KanAm Grund Group buys logistics and light industrial portfolio

KanAm Grund Group has bought a logistics and light industrial portfolio in Germany for a specialized real estate fund. The seller was a joint venture between Bechtolsheim Real Estate and Zamberk Real Estate Ventures (ZREV). The portfolio consists of four buildings for warehouse, production, logistics and office use. The properties in Dreieich, Nettetal and Meckenbeuren offer the tenants production, office and logistics space. The property in Bad Hersfeld will serve as a hub and last-mile distribution center. It is currently under construction for the tenant, Deutsche Post Immobilien, and is being acquired in a forward deal. The tenants at the other locations include Zeppelin Mobile Systems GmbH, TDK Kabel GmbH and Caverion Deutschland GmbH. The portfolio owns lettable space totalling around 24,000 square meters. The two biggest locations are in Nettetal and in Meckenbeuren. The parties have agreed not to disclose the purchase price.

The logistics and light industrial portfolio will be integrated into the KanAm Grund Europa fund and further diversify its almost exclusive office use with properties in London and Frankfurt.

The German logistics market is continuing to expand. In the first half of 2021, a total of EUR 4.23 billion was invested in German logistics real estate. This is 13 percent higher than in 2020, and the second-best half-year result so far. The figures are a strong indicator of continuous and sustained growth and investor demand in the logistics sector.