Elite Partners Capital Acquires Logistic Centre Germany
Elite Partners Capital, a Singapore-based alternative investment management firm, has recently announced the acquisition of a global logistics centre located in Ettlingen West’s Industrial Zone in Germany. The acquisition was made by their flagship fund, Elite Logistics Fund II, and backed by a sovereign wealth fund along with a network of family offices in Asia.
Situated near Stuttgart, the automotive capital of Germany, the large-scale multi-user logistics park covers an area of 1.94 million sq ft. The site was previously owned by a joint venture between global alternative investment management firm TPG Angelo Gordon and Germany-based investment and asset management company aam2core Holding. The transaction was facilitated by CBRE’s capital markets team in Germany.
Currently, more than 85% of the property’s net lettable area is tenanted to a leading automotive company on a long-term lease, making it their global logistics centre. The industrial zone benefits from excellent transportation options, such as direct connections to motorways, access to the Port of Karlsruhe, a major inland port along the Rhine, and close proximity to Frankfurt and Stuttgart international airports.
In line with their commitment to environmental, social, and governance (ESG) principles, Elite Partners Capital plans to enhance the centre’s specifications and achieve the DGNB Gold Certification, the highest sustainability certification awarded by Germany’s sustainable building council.
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Victor Song, co-founder and CEO of Elite Partners Capital, notes that the current stabilizing interest rates provide a strategic opportunity for investors to enter the market.