Blue chip logistics package goes to JV with Koreans for €350mn

24/05/2019

GreenOak and Apeiron, together with Korean investors, have acquired three German Big Box warehouses let to BMW, Otto and Daimler, with a total of 340,000 sqm. The seller, the multi-family office Tilad from Dubai, is reported to have received around €350mn for the package, which has been on the market for over a year. TD has learned from market insiders that the properties involve the Hermes Fulfillment Center in Löhne near Dortmund, the BMW warehouse in Niederaichbach near Munich and the Daimler logistics center Interpark in Offenbach an der Queich in the Rheinpfalz region. The Korean joint venture partners are Hana Financial Investment – the new co-owner of the Frankfurt office tower Trianon – and Tiger Alternative Investors, which is making its first appearance in Europe.


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