- The global real estate investor Patrizia has sold a 43,200 sqm logistics site to investment company Fidelity International.
- TA Europe was commissioned to carry out the Vendor Technical Due Diligence on behalf of Patrizia.
Essen, 31.08.2021 – Fidelity International acquired the property for its logistics fund, which post-purchase amounts to approximately 200,000 sqm of rental space. The single and long-term tenant is the car accessories supplier Europart Materials, which has operated the property as its main global distribution centre since 2006.
The property itself comprises five buildings: two logistics halls, a gatehouse and two technical buildings, located on a commercial site with an area of 109,335 sqm. It further includes external parking areas with a total of 226 open parking spaces for employees and visitors, as well as goods delivery, access and exit areas, truck parking spaces and green spaces.
The scope of TA Europe’s Vendor Technical Due Diligence (VTDD) included the review of the documentation of the property as well as a thorough site inspection by the TA Europe team and reporting on the future CAPEX measures that would be foreseeable.
Lawrence Wainwright, Partner at TA Europe, says: “As this asset class continues to boom in Germany and mainland Europe, the demand for sound technical expertise and experience in the logistics and light industrial sector is increasing. The spectrum of properties evaluated by our experts is wide and ranges from the larger storage or distribution halls on greenfield sites with high third-party usability to more compact, urban logistics locations catering for ‘last mile’ dispatches for private consumers by market giants such as Amazon. Both this broad spectrum and large number of logistics TDDs carried out makes our consultants the right people to contact when it comes to leading technical evaluations of any logistics property.”