Valor Real Estate Partners (Valor) has acquired a vacant 20,465 m2 urban warehouse property in Berlin Pankow, from a private vendor. Financial details were kept confidential.
The asset comprises a 25,318 m2 industrial site alongside a 15,251 m2 undeveloped plot of land 20 minutes’ drive north of Berlin city centre, with direct access to the A114/B109/B96a motorways.
The current warehouse building will be partly demolished and subsequently refurbished delivering a 12,090 m2 warehouse, split into two urban distribution units with four to six dock loading doors and one level access door per unit. In addition, a newly developed 6,148 m2 multi-purpose warehouse will provide four smaller units of 1,350 m2 to 1,615 m2, each with one dock loading and one level access door.
Camila Malzkorn, vice president at Valor, said: ‘As one of the most dynamic e-commerce markets globally, we are excited by the urban logistics opportunity in Germany, especially around Berlin and other major cities, hence our ambition to significantly grow our footprint over the short to medium term. The vacant warehouse is ideally located for last-mile delivery in critically undersupplied infill markets and offers potential to enhance value on the asset level through repositioning and leasing activity.’
Valor has identified Germany as a strategic priority and has amassed a portfolio of four last mile properties since 2019, located in the key conurbations of Berlin, Frankfurt and Duesseldorf. Valor is aiming to deploy a significant portion of its current €1 bn investment vehicle into the German market.
Valor was advised by BNP Paribas, CMS Hasche Sigle, Hollis Global and Arcadis.
BNP Paribas Berlin is exclusively mandated with the letting of the total 14,868 m2 warehouse and 3,371 m2 office areas spread over the refurbished and newly developed warehouse units.
