Allianz Real Estate acquires prime facility in key German logistics corridor

^{Image: Lang & Cie. Industrial AG}

Located in between the metropolitan areas of Cologne and Bonn to the north and the Rhein and Main areas to the south, the state-of-the-art facility is comprised of six warehouses, each with a net lettable area of 10,000 sqm. With completion expected in 2024, the asset is fully pre-let with long-term contracts to V+B Fliesen GmbH and Elsen Logistik GmbH, an established logistics provider.

The facility, which will use photovoltaic panels on the roofs to achieve its target of a DGNB Gold certification and, on completion, will comply with both CRREM Pathway and EU Taxonomy requirements, aligning the asset to Allianz Real Estate’s commitment to reduce carbon emissions across its portfolio by 25% by 2025 and become net-zero by 2050.

The logistics sector remains a central focus for Allianz Real Estate due to its strong market fundamentals, including the rise of e-commerce and supply chain re-configuration. The firm’s global logistics portfolio has grown to EUR 13.9 billion in assets under management, of which EUR 7.1 billion is in Europe.

Logistics transactions in 2022 include a joint venture with VGP to develop a portfolio of prime assets in Germany, the Czech Republic, Hungary and Slovakia; the acquisition of a three-asset, Grade A portfolio in the Nordics; the acquisition of a new 70,000 sqm facility in Norrköping, Sweden; and a seven-year refinancing facility to Intospace for a portfolio of six assets in the Netherlands.