Patrizia fund takes over six logistics assets from Cromwell
Patrizia Immobilien has acquired a package of six logistics assets totaling about 43,000 sqm lettable space from Cromwell Germany for €59mn. The properties are so-called cross dock centers. They are located in Hürth, Kassel, Koblenz, Neumünster, Leipheim, and Neuseddin. The leases have average remaining terms of over ten years. The first four properties are leased to trans-o-flex and had been managed by Cromwell since 2014 prior to this current sale. Cromwell had acquired the assets in Leipheim and Neuseddin in 2015 and 2016. Patrizia is adding the properties to the “Logistik Invest-Europa II” fund.
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