Clarion picks up Rhine-Rhur logistic asset from Panattoni

Logistics specialist Clarion Partners Europe is paying Panattoni €75 million for the recently developed Panattoni Logistics Park at Voerde, in Germany’s Rhine-Rhur region.

The asset comprises two buildings totalling 66,930 sq m split into six units and has been acquired for one Clarion Partners Europe’s co-mingled funds.

Panattoni developed the 112,000 sq m brownfield site between 2021 and 2023. The project is fully let and tenants include Flender, WM Group and MTDE. The leases have a blended WALB of seven years.

The development is one of the largest projects of its type ever undertaken in the Lower Rhine region. A PV system with a peak capacity of 6.86 megawatt peak will be installed by the end of 2024. The forecasted power generation of more than 5.8 million kilowatt hours per year will provide electricity for c. 2,300 two-person households.

“This was a rare opportunity to acquire a high-quality, newly developed logistics park with an attractive income profile; near full annual CPI indexation, with medium term reversionary potential,” said Thorben Schaefer, senior director at Clarion Partners Europe. “Vacancy rates in the Rhine-Ruhr remain close to historical lows due to a limited development pipeline, which should drive future rental growth.” 

Clarion Partners Europe was advised by Goodwin Procter, CBRE, Counsel and Colliers.