By IPE staff2021-02-10T16:18:00+00:00
Verdion’s European logistics fund has invested €28m to buy a German logistics park from Equity Estate.
Equity Estate said it has sold the asset on the outskirts of Kassel to the Verdion European Logistics Fund 1 (VELF1) fund.
The property was held by Equity Estate for almost 15 years, forming part of the Queristics portfolio which was raised in 2005.
The 58,307sqm plot currently comprises 16,046sqm of warehousing and 3,852sqm office and commercial spaces in three buildings. The acquisition also includes additional land with potential for a new warehouse of around 6,000sqm plus 500sqm office space and a 1,228sqm mezzanine.