TA Europe is continuing to extend its wealth of technical expertise in the light industrial and logistics sector through having provided pre-acquisition Technical Due Diligence services to Europa Capital, the pan-European real estate investment manager, along with its joint venture partner, Garbe Industrial Real Estate (“Garbe”), on the acquisition of a light industrial and logistics portfolio in Germany and Austria, on behalf of its pan-European value-add fund, Europa Fund V.
The acquisition, as reported in the property press to be €92.5 million in value, related to a 183,000 sqm portfolio comprising six business park assets in key logistics locations, of which five sites were in Germany (including Bremen, Bochum, Troisdorf, Frankfurt and Wiesbaden), as well as one business park site in Austria, located in Lebring near Graz.
Environmental Due Diligence was provided by Tauw GmbH, from their Moers and Munich offices, with whom we worked closely and have a track record of offering seamless ‘TEDD’ services together.
The Technical Due Diligence (TDD) team at TA Europe has an impressive track record in the logistics sector across mainland Europe, having completed numerous single asset or portfolio Technical Due Diligence commissions of logistics, light industrial or cold storage properties in Germany, Spain, The Netherlands, France, Austria and Denmark, recently and over the last 4 years.
The TDD team for this acquisition, headed by Partner, Lawrence Wainwright FRICS, a Chartered Building Surveyor who has been actively covering TDD work in mainland Europe from Germany since 1996, also included architects, surveyors, fire experts and MEP services engineers.
This specialist and relevant sector experience demonstrated value to the investor parties through being able to review Vendor Due Diligence reports, prepared on behalf of the vendor, to quickly identify not only additional defect or life cycle replacement items that would be relevant in the long term, but also shorter-term or present technical risk issues and relevant items, that we find are or will be commonplace from experience in this sector, for the purchase price and deal negotiations, where these had not been identified in the vendor due diligence and were proposed to be relied upon by our client as purchaser.
Please contact us if you would like to find out more about our technical expertise and market-leading experience in technical appraisals and building pathology advice to investors and owners of commercial property across Europe.