DWS' local partner Newsec announced the construction completion of the third and final logistics facility, which forms part of a three-property logistics portfolio acquired as a forward funding by DWS in 2019, on behalf of a German institutional investor.
The framework agreement for the sale of all three assets was signed between DWS, the global real estate investment manager, and YIT Finland Limited, the construction company developing the assets, in an off-market transaction. The deals have been completed in stages, with the latest asset completed in August 2022. DWS executed the project in collaboration with its local partner Newsec.
The completed assets are designed to meet the demanding needs of today's logistics operations and support fast-paced online shopping distribution. The total area of the logistics portfolio is approximately 50,000 square meters. The tenants of the assets are significant players in the logistics industry and grocery trade, including among others such tenants as PostNord and the new online grocery store operator Oda.
"The demand for logistics assets among both domestic and especially international investors has been growing for years, and the Covid-pandemic accelerated the demand even more. However, the challenge is the lack of supply of good logistics investment opportunities, so the purchase of this logistics portfolio is a great success", stated Pinja Raitanen, Director (Capital Markets) and Partner, from Newsec.
"We are very satisfied that our comprehensive cooperation model enables us to make long-term and development-oriented investments for the benefit of our customers", stated Teemu Hall, Vice Head of Investment Management Finland and Partner, from Newsec.
For more information, please contact:
Teemu Hall
Vice Head of Investment Management Finland
Newsec
+358 50 598 2300
teemu.hall@newsec.fi