Palmira Capital Partners (Palmira) let a total of 215,000 sq m of space in the properties the company manages, during 2023. Of this, 46,500 sq m were in properties managed by Palmira's German Logistics Fund (GLOF). New lettings and lease extensions agreed in business parks comprised a further 168,500 sq m.
These assets belong to various, successful funds in this property class established by Palmira that it is now actively managing. Acquisitions during 2023 included the “Ikaruspark” in Puchheim, the “Wissenschaftspark” (science and technology park) in Trier and a property in Kassel.
"These results emphasise the continuing strong demand for multifunctional warehouse and urban logistics space. They also demonstrate our investment division’s ability to act and react. Even in a market environment dogged by uncertainty, we could identify and exploit opportunities and complete acquisitions with a total volume of EUR 200 million," comments Alexander Hoff, Managing Partner of Palmira.
The acquisition of a new logistics building in Esselbach contributed to this positive result. The annual results are rounded off by the purchase of a logistics property in Swarzędz, near Poznan in western Poland, for the "P-Logistik Europa Fund".
Palmira is continuing its active acquisition strategy in 2024 and has already acquired properties in Belgium and Poland. Further purchases are currently in the due diligence phase. Additionally, the spring will see the launch of a successor product to the European Core Logistics Fund (ECLF), which has been fully invested since the start of 2024.
