Frasers Property Investments Europe (FPE) has agreed to acquire via its wholly owned subsidiaries a total of six logistics cross-dock facilities from ECE Projektmanagement G.m.b.H. & Co. KG (ECE).
The properties are located in core logistics markets in Heilbronn, Mainz, Berlin, Augsburg, Hamburg and Halle and have a total lettable area of 75,378 m² on a total land surface of 426,439 m². The properties in Heilbronn, Mainz and near Berlin are newly constructed, while the Augsburg property is expected to be completed in February 2018 and the Hamburg and Halle properties in Q4-2018, respectively Q1-2019. All properties have a long-term lease to Hermes and a 100% occupancy rate. They are part of a total of nine logistics centers that ECE is developing for Hermes.
Henrie W. Kötter, Chief Investment Officer (CIO) at ECE: “The demand for high-quality logistics properties continues to be very high both in Germany and internationally. We are delighted to work with Frasers Property Investments Europe in the context of this transaction for the first time.”
Dr. Wulf Meinel, CEO at Frasers Property Investments Europe: “After acquiring a 99.4% stake in Dutch listed firm Geneba Properties in July 2017 this is a further proof of Frasers`s plan to grow its market share in the European logistical and light industrial segment significantly. The high quality, cross-dock facilities of each of the six Properties, which were all developed by ECE for the long-term tenant Hermes, are state-of-the art facilities equipped with above-market specifications and fit-out. The facilities are designed to meet “DGNB Gold” certification in line with the German Society for Sustainable Construction (comparable with “LEED” or “BREEAM”). I am very pleased that we could engage in a constructive and professional process with ECE for this deal.”
Picture of the Hermes logistics center in Heilbronn / Bad Rappenau
Source : Company