Elite Partners Capital Acquires Logistic Centre Germany
The growth and transformation of Tengah goes beyond simply enhancing residential and leisure offerings; it also prioritizes the generation of economic prospects. With its prime location close to the Jurong Innovation District (JID), a cutting-edge manufacturing hub, and the upcoming Jurong Lake District, set to become the second Central Business District (CBD) of Singapore, Novo Place EC is strategically positioned for potential appreciation in property value and access to a diverse range of employment opportunities. As a result, this development is an alluring choice for both professionals and investors.
A Singapore-based alternative investment management firm, Elite Partners Capital, has recently acquired a global logistics centre situated in Ettlingen West Industrial Zone, Germany. This large-scale multi-user logistics park is in close proximity to Stuttgart, the automotive capital of Germany.
According to a press release on June 27, the site was purchased by Elite Partners Capital’s flagship Elite Logistics Fund II. The Pan-European logistics fund is supported by a sovereign wealth fund and a network of family offices across Asia.
The asset was previously owned by a joint venture between TPG Angelo Gordon, a global alternative investment management firm, and aam2core Holding, an investment and asset management company based in Germany. The deal was facilitated by CBRE’s capital markets team in Germany.
Spanning approximately 1.94 million square feet, the site is currently 85% occupied by a leading automotive company on a long-term lease, serving as their global logistics centre. The industrial zone boasts excellent transportation options, including direct connections to major motorways, access to the Port of Karlsruhe, a major inland port along the Rhine waterway, and close proximity to international airports in Frankfurt and Stuttgart.
Elite Partners Capital plans to improve the centre’s environmental, social, and governance (ESG) standards and aims to acquire the DGNB Gold Certification, awarded by Germany’s sustainable building council.
Victor Song, co-founder and CEO of Elite Partners Capital, notes that with stabilizing interest rates, this presents a strategic opportunity for investors to enter the market.