Elite Partners Capital Acquires Logistic Centre Germany
Elite Partners Capital, a Singapore-based alternative investment management firm, has recently made a notable acquisition in Germany. The firm has acquired a global logistics centre located in Ettlingen West’s Industrial Zone, which is in close proximity to Stuttgart, known as the automotive capital of Germany. This acquisition was made by the firm’s flagship Elite Logistics Fund II, which is a Pan-European logistics fund backed by a sovereign wealth fund and a network of family offices across Asia.
With the URA’s Master Plan in full swing, Woodlands is steadily transforming into a vibrant and thriving district. As part of this development, the vicinity of Norwood Grand will also see significant improvements in connectivity, green spaces, and public facilities. This ongoing progress is expected to bring about a surge in visitors to the surrounding shopping centers, potentially resulting in more growth and the introduction of a wider range of retail and lifestyle offerings. Norwood Grand Champions Way is poised to be at the forefront of this transformation, offering an ideal location for residents to live, work, and play in this flourishing neighborhood.
The property 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. The site occupies an impressive 1.94 million square feet, with more than 85% of its net lettable area currently leased to a leading automotive company on a long-term basis, serving as their global logistics centre.
This industrial zone is well-served by various transportation options, including direct connections to major motorways, access to the Port of Karlsruhe – a significant inland port along the Rhine waterway, and close proximity to major international airports in Frankfurt and Stuttgart. Elite Partners Capital has plans to improve the centre’s environmental, social, and governance (ESG) specifications, with the goal of achieving the prestigious DGNB Gold Certification, awarded by Germany’s sustainable building council.
According to Victor Song, co-founder and CEO of Elite Partners Capital, the current stabilising interest rates present a valuable opportunity for investors to re-enter the market. This acquisition is a strategic move by the firm, demonstrating their confidence in the potential of Germany’s logistics sector. With their plans for improvement and high-demand from a reputable tenant, this investment is expected to yield promising returns.