DLA Piper has advised Ofi Invest Real Estate on the acquisition of a core logistics portfolio on behalf of one of its clients comprising two cross-dock logistics properties located in Cologne and Kleinmachnow (Berlin area). The assets have been sold by DWS on behalf of one of its real estate funds.
Both assets, delivered in 2016, offer good and modern technical specifications over 15,000 sqm of lettable area as well as lorry and car parking spaces. The total plot size of the two logistics properties is approximately 54,600 sqm. Both assets are fully let on a long-term basis through triple-net lease agreements.
This investment is of strategic interest for Ofi Invest Real Estate, as Cologne and Berlin are amongst the most established logistics markets in Germany. Both properties benefit from a dense motorway network and from an excellent connection to public transportation.
Ofi Invest Real Estate is the real estate arm of Ofi Invest, the fifth largest asset management group* in France. It covers the full real estate management value chain: fund management, investment, property development, asset and property management.
The DLA Piper team was co-led by partner Fabian Mühlen and counsel Moritz Mursa (both Real Estate, Frankfurt).
In addition, partner Dr Marie-Theres Rämer as well as senior associates Albina Daka (both Tax, Frankfurt), Muhammet Yavuz and associate Dr Leonard von Bargen (both Real Estate, Cologne) were involved.
