- Industry leader expands German footprint with 260,000 square meter portfolio acquisition
- Properties are primarily located in major areas of population, supporting company’s urban growth strategy
Düsseldorf (7 June, 2022) – Prologis, Inc., the global leader in logistics real estate, today announced the acquisition of an 11-building portfolio in Germany. The buildings are in target markets that support the company’s growth strategy: Rhine-Ruhr, Berlin, Rhine-Main, Rhine-Neckar, Hannover, Ulm and Regensburg.
The seller is an open-ended special AIF (Spezialfonds) of German pension funds, insurance groups and foundations managed by UBS Real Estate GmbH.
“Germany is a growing market and this acquisition allows us better serve both existing and future customers,” said Björn Thiemann, senior vice president, country manager, Prologis Germany. “Importantly, most of the properties are in urban infill locations, which helps our customers be that much closer to the end consumer.”
The properties are located on 60 hectares of land in core “micro-locations” and include both turn-key buildings as well as new development opportunities. Prologis has plans for redevelopment and upgrades, including rooftop solar, EV charging and LED lighting.
The Customer in Focus
One-third of the UBS portfolio is leased to Prologis’ existing global customers. In addition, the transaction will add two new large and several smaller new customers to the Prologis Germany roster. Two of the acquired buildings are short- to mid-term redevelopment properties on approximately 27 hectares. Once necessary redevelopments are completed, the facilities will allow Prologis to better serve its customers via high-quality logistics space in land-constrained, sought-after regions.
“This transaction represents the realization of our investment strategy in the region, which involves leveraging the favorable market environment and creating a stable income basis with long-term growth potential,” said Peter Rocker, director and head of transactions for Germany at UBS-AM REPM.
BNP and DLA Piper represented the seller. JLL, Hogan Lovells and AECOM advised Prologis.
Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of March 31, 2022, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.0 billion square feet (93 million square meters) in 19 countries. Prologis leases modern logistics facilities to a diverse base of approximately 5,800 customers principally across two major categories: business-to-business and retail/online fulfillment.
About UBS Asset Management
UBS Asset Management is a large-scale asset manager with a presence in 23 markets. It offers investment capabilities and investment styles across all major traditional and alternative asset classes to institutions, wholesale intermediaries and wealth management clients around the world. It is a leading fund house in Europe, the largest mutual fund manager in Switzerland, the second largest fund of hedge funds manager and one of the largest real estate investment managers in the world.