Open-ended real estate fund grundbesitz europa buys logistics portfolio from Commerz Real hausInvest fund

The portfolio with a total rental space of approx. 54,000 square metres comprises the properties “Celebi Luftfrachtbasis” in Cargo-City South at Frankfurt Airport, “Logicpark Airport” in Kelsterbach, which is also in the immediate vicinity of Frankfurt Airport, and the “Hermes HUB” not far from Hanover Airport in the city’s Langenhagen district. Commerz Real had purchased the properties in the years 2009 to 2011. The fully-leased properties have now been sold in the framework of a bidding process.

“The values of the three properties have developed well as part of the hausInvest portfolio. Against the background of the strong demand on the part of investors for high-quality logistics real estate in the immediate vicinity of airports it was an excellent point in time for the fund to complete a sale,” said Robert Bambach, the board member of Commerz Real AG responsible for real estate transactions. “This does not at all mean, however, that hausInvest is withdrawing completely from the logistics sector. We are retaining our real estate in Harlow, England, and renewed investments in this segment so as to ensure the desired portfolio blend cannot be excluded.”

“These logistics properties are an excellent addition to the portfolio of our grundbesitz europa fund,” stated Georg Allendorf, European Co-Head Alternatives & Real Assets, Asset Management Deutsche Bank. The open-ended real estate fund grundbesitz europa currently has a fund volume of approx. 4.8 billion euros and following the latest acquisition the portfolio encompasses 52 properties. The proportion of logistics real estate following this acquisition is approx. 7 per cent.