Emirate invests in Karstadt central warehouse in eastern Ruhr area


After the co-purchase of the Christie portfolio with four shopping centers, state-owned holding Mubadala Investment of Abu Dhabi is now looking into European logistics properties. As TD learned, the holding is taking over shares of the Karstadt central warehouse in Unna and another logistics asset in Savigny-le-Temple near Paris. The former owner of the properties is asset manager Barings, which is part of the American life insurance group Mass Mutual. Barings had taken over the 184,000 sqm Karstadt warehouse in the Königsborn district in March of last year for €90mn as the first German logistics property in the portfolio. The company declined to comment on this new transaction upon inquiry.

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