InfraRed has recently completed the purchase of a 14,000 sqm distribution unit, which is built on a 30,000 sqm site near the port of Duisburg in the Rhein-Ruhr area. The team has acquired the distribution property from an international corporate owner-occupier in the form of a 15-year sale and leaseback.
Within the past two years InfraRed has acquired over 600,000 sqm of industrial space in the U.K. and continental Europe. In June 2012 InfraRed sold its 100,000 sqm Amazon distribution centre in Dunfermline, Scotland, for which it had provided development funding during 2011. The Duisburg transaction is InfraRed’s fifth recent distribution deal in Germany and was acquired as part of its strategy to build a portfolio of well-located German warehouse assets in established distribution hubs such as Hamburg, Munich or the Rhein-Ruhr region.
Joram Szerkowski, Director, Real Estate at InfraRed commented:
“This transaction further expands our German warehousing portfolio and enhances its income profile. We are intending to keep growing our logistics asset base in Germany through selective portfolio acquisitions. In addition, having acquired the Cologne Tower in 2011, we continue to pursue office opportunities with strong value-add potential in the top German office markets.”
BNP Paribas Real Estate GmbH advised on the transaction.