21 November 2023
Frankfurt, 21 April 2023 – Peakside Capital Advisors AG (“Peakside“) has acquired four assets with a combined 20,000 sq.m. of logistics, office and service space in the CargoCity Süd at Frankfurt Airport. The portfolio will become part of a Peakside Real Estate Fund. The parties agreed not to disclose the purchase price.
The buildings include three mixed-use logistics assets with service, office and mezzanine spaces as well as a parking deck with 420 spaces overall. Peakside plans to refurbish the assets as part of its tansition-to-ESG strategy for existing buildings.
Simon Lutz, Partner at Peakside, says: “A dynamic leasing market makes logistics in Frankfurt an attractive proposition. Demand for flexible and modern spaces in the CargoCity Süd, Europe’s leading air freight hub, remains particularly high. Following the refurbishment, we will be able to offer different types of spaces for the demand on site.”
CargoCity Süd is the air freight hub on Frankfurt Airport grounds. The airport is Europe’s largest transfer site for air freight and amongst the top 10 hubs worldwide. Over 130 passenger and cargo airlines connect Frankfurt with more than 350 destinations around the globe. CargoCity Süd is excellently linked to the A3 and A5 motorways via the Frankfurter Kreuz, one of Europe’s largest and busiest motorway junctions.
Boris Schran, Managing Partner at Peakside, adds: “With the acquisition, we are adding a prominent location with value-add and rental growth potential for our investors to the logistics portfolio. Logistics investments are playing a major role also in the acquisition strategy of our Peakside Real Estate Fund IV. We entered the investment phase last year and are looking for further investment opportunities in development as well as existing buildings at established logistics hubs for the discretionary fund.”
Peakside plans to invest more than 1.2 billion euro on behalf of PREF IV in Germany over the coming 24 months.
In the transaction, Noerr (law) and HauckSchuchardt (tax) acted as advisors for Peakide.
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About Peakside
Peakside Capital Advisors AG is a European investment manager. The private-equity company manages assets worth over EUR 1.4 billion on behalf of institutional investors. Peakside implements differentiated investment strategies tailored to specific investor needs, ranging from core to value-add and opportunistic investments in commercial and residential assets and has in total acquired assets worth EUR 4.1 billion. Peakside’s investment spectrum includes single properties, developments as well as portfolios, distressed debt and real estate operating companies. The firm employs a team of more than 30 professionals in its offices in Frankfurt, Zug, Warsaw, Prague and Luxembourg.
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