Elite Partners Capital acquires logistic centre in Germany
Elite Partners Capital, a Singapore-based alternative financial investment management company, has acquired a global logistics centre situated within Ettlingen West’s Industrial Zone, Germany. The massive multi-user logistics place is near to Stuttgart, the automobile capital of Germany.
In a June 27 announcement, the firm claims that the area was gotten by means of the firm’s main Elite Logistics Fund II. The Pan-European logistics fund is supported by a sovereign wealth fund, along with a network of family workplaces across Asia.
Elite Partners Capital intends to enhance the centre’s environmental, social and governance (ESG) specifications, and expects to achieve the DGNB Gold Certification– the accreditation awarded by Germany’s eco friendly building committee.
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The investment was offered by a mutual investing between worldwide alternative investment organization firm TPG Angelo Gordon and Germany-based financial investment and property management firm aam2core Holding. The purchase was agented by CBRE’s capital markets team in Germany.
The location covers around 1.94 million sq ft. More than 85% of the commercial property’s final lettable area is currently occupier to an automotive giant on a lengthy lease, serving as their global logistics facility.
The industrialized area is served by many travel options, providing straight links to different motorways, access to the Port of Karlsruhe– a primary inland port along the Rhine river, as well as proximity to key global flight terminals in Frankfurt and Stuttgart.
Victor Song, co-founder and chief executive officer of Elite Partners Capital, states that the stabilising lending rates provides a strategic window of option for investors to re-enter the marketplace.