BNP Paribas REIM, acting on behalf of its Eurozone Logistics Fund (ELF), has acquired the warehouse « Star Park Halle » from the global developer Goodman. The newly-built asset is located in the Star Park logistics park of 230 ha, near Leipzig, and has been delivered in April 2019. The warehouse has a total lettable area of approx. 69,300 sqm, with high level grade A features such as 1 dock for 800 sqm, ground capacity of 7.5 tons/sqm and a height of 12.2 meters. Star Park Halle will achieve a DGNB Gold green certification and is fully let to an e-commerce company, specialised in home and garden furniture.
Lucas Despretz, Fund Advisor of ELF, commented: “This new acquisition is strengthening the allocation of the fund in Germany which is the most mature market for logistics in Europe. The Star Park logistics park is very well located at the crossing of two main motorways and benefits from the labour force of Halle and Leipzig, both cities are less than 25 kilometres away. It is an affordable and efficient alternative to the older areas around Leipzig.”
ELF is a European fund, managed by BNP Paribas REIM Luxembourg, dedicated to international institutional investors with a pure logistics strategy in the Eurozone and a sustainable angle. Since its launch, over 200 million euros of equity have been committed and the fund is targeting a total equity of 300 million euros for the last closing scheduled in June 2019.