Zurich-based investment and asset manager, StoneVest AG, and an entity managed by Madison International Realty, a leading liquidity provider to real estate investors worldwide, have launched a joint venture for the acquisition of light industrial and logistics properties. Over the next three years, the joint venture partners expect to acquire assets with a total value of up to EUR 150 million.
The joint venture will target new and existing properties valued between EUR 10 million and EUR 50 million, with a particular focus on sale and leaseback transactions and purchases of leased corporate real estate. The joint venture will acquire properties located in Germany, Austria and Switzerland, within important industrial hubs that benefit from excellent transport connectivity.
The joint venture has already closed on two long lease light industrial properties in Bavaria through a capital partner replacement transaction from the "Industrial Properties Europe" investment platform launched by StoneVest in 2021.
The first property is in Hilpoltstein near Nuremberg on the A9 motorway and comprises 13,300 sqm of production and warehouse space on a 28,000 sqm site. It is leased to a specialist illuminated signage company. The second property is an 8,900 sqm production and storage asset in Ettenbeuren on the A8 between Ulm and Augsburg. It is fully leased to an automotive supply company that manufactures chassis trailers for caravans and motorhomes.
Since the launch of its Industrial Properties Europe investment platform in 2021, StoneVest has established partnerships with medium-sized companies in the technology and manufacturing sectors in the DACH region. Through the sale and leaseback of their operationally essential properties, companies are able to free up growth capital and by working with StoneVest they can modernize their owner-occupied and portfolio production buildings, create sustainable business locations and secure their competitiveness in a changing market environment. Due to the long-term nature of the leases and the ongoing collaboration with the tenants in the management of the properties, this sub-segment is interesting for investors such as Madison International Realty and StoneVest, as an operating partner.
Source: press release sent 11 March 2024