Kara Group of Companies, an Austrian real estate developer with more than 30 years of experience, sells a distribution centre that is part of its successful Logistikzentrum Wien Nord and leased to DHL. The buyer is the global real estate investment manager AEW. The transaction was arranged by EHL Investment Consulting, the price of the transaction has not been disclosed by mutual agreement.
DHL, the world’s leading logistics company, leases the facility on a long-term contract. The state-of-the-art facility was completed in 2019 and comprises 11,600 sqm of lettable space. Situated in direct proximity of the Austrian capital with immediate access to the Vienna City Ring Road S1 and the highway A5 leading to the Czech Republic the Logistikzentrum Wien-Nord offers highly efficient, modern, cost-competitive logistics facilities in an excellent location.
Christoper Thiele, Separate Account Manager at AEW, said: “With this acquisition, we secure a high-quality city logistics facility for our investor. The distribution centre is situated at an already established and further growing location for logistics, which on the one hand covers the logistic requirements of Vienna and on the other hand serves as a central turning point for pan -European flow of commodities. The facility is in excellent condition and due to our long-term lease agreement with the world’s leading Logistics company DHL a secured long-term cash flow is achieved.”
Susanne Plätzer, managing partner, at Kara Group of Companies, commented: “The high-end distribution centre of DHL is situated in direct proximity of Vienna, Austria´s capital, and offers perfect access to the high-level road network. We are very proud to have won AEW, the large international investor, as a buyer for our top-quality facility. For AEW this was the first acquisition of a logistics facility in Austria in what is meant to be a long term investment strategy. The sales transaction is another step in our group’s firm position in the market for high-grade institutional investors in commercial real estate.”
“The transaction of the DHL distribution centre clearly shows the current outstanding performance of the logistics sector. Logistics facilities currently face a historic all-time high in the first quarter of this year caused by outstanding demand and the corresponding price really,” said Markus Mendel, managing partner EHL Investment Consulting.
