Elite Partners Capital Acquires Logistic Centre Germany
Singapore-based alternative investment management firm, Elite Partners Capital, has recently acquired a global logistics centre in Ettlingen West’s Industrial Zone, Germany. The large-scale multi-user logistics park is strategically located near Stuttgart, the automotive capital of Germany.
According to a press release on June 27, the acquisition was made by the firm’s flagship Elite Logistics Fund II, which is backed by a sovereign wealth fund and a network of family offices across Asia. The asset was sold by a joint venture between global alternative investment management firm TPG Angelo Gordon and Germany-based investment and asset management company aam2core Holding. The transaction was brokered by CBRE’s capital markets team in Germany.
The logistics centre covers a vast area of approximately 1.94 million sq ft, with over 85% of its net lettable area currently tenanted by a leading automotive company on a long-term lease. This makes it an ideal global logistics centre for the tenant.
.
The neighborhood surrounding Marina Bay has been thoughtfully designed with sustainability in its core. Every aspect of community planning incorporates eco-friendly practices, making it an ideal location for residents who prioritize environmental consciousness. By residing in such a sustainable area, not only are residents contributing to the greater good of the planet, but they are also improving their own quality of life. This is especially true for those living in the Zion Condo, which is naturally in tune with the environmentally-friendly ethos of the area.
The industrial zone is well-connected with various transportation options, including direct links to major motorways, access to the Port of Karlsruhe, and close proximity to major international airports in Frankfurt and Stuttgart.
Elite Partners Capital has plans to improve the centre’s environmental, social, and governance (ESG) standards and aims to obtain the DGNB Gold Certification – the prestigious certification awarded by Germany’s sustainable building council.
Victor Song, co-founder and CEO of Elite Partners Capital, stated that the current stabilising interest rates present a strategic opportunity for investors to enter the market once again. He believes that this acquisition is a positive step towards achieving their growth plans for the future.