As part of a sale and leaseback transaction, Deka Immobilien GmbH has secured a DSV portfolio of three German properties under a purchase agreement. The seller is the international Danish logistics company DSV. The properties will be added to the portfolio of the open-ended real estate fund WestInvest InterSelect. The parties agreed not to disclose the purchase price.
The portfolio includes two logistics halls in Homburg (Saar) and Peine that were completed in 2016 and 2017 and a development project in Bochum, which is scheduled to be completed in the third quarter of this year. The properties offer around 85,000 m² of leasable space and 231 truck and 263 car parking spaces, and have good access to the motorway network. They are fully leased under long-term leases to the DSV A/S Global Transport and Logistics group, which was established in 1976. The Homburg property has received DGNB Gold certification for sustainable construction. Applications for the same certification have been submitted for Peine and Bochum.
The purchase allows the Fund to increase the regional and sectoral diversification of its German portfolio with three modern buildings that offer a secure long-term cash flow.