Key Takeaways
- • PATRIZIA acquired a four-property German logistics portfolio for approximately €22.5 million, comprising 18,000 square metres of hall space and 35,000 square metres of leased exterior space across Bardowick (Hamburg), Jarmen (Rostock), Gera (Leipzig), and Schortens (Bremen).
- • All four properties are secured under long-term lease agreements with Hermes Germany GmbH spanning over 11 years with three two-year extension options, providing stable, contracted cash flow for the fund.
- • The acquisition expands PATRIZIA's Pan-European logistics real estate fund across multiple countries including France, Belgium, the Netherlands, and Germany, capitalizing on accelerating e-commerce logistics demand.
- • Hermes Germany, a subsidiary of the Otto Group, operates more than 14,000 package shops and delivers to over 1.5 million customers daily, making it a high-quality anchor tenant with substantial operational scale and financial stability.
- • The properties were sourced directly from project developer May & Co., which had developed and held the assets for four years prior to sale.
Summary
PATRIZIA Immobilien AG has acquired a portfolio of four German logistics properties valued at approximately €22.5 million on behalf of its newly issued Pan-European logistics real estate fund. The portfolio comprises packet distribution centres located in strategically selected markets: Bardowick south of Hamburg, Jarmen southeast of Rostock, Gera south of Leipzig, and Schortens north of Bremen. The properties total approximately 18,000 square metres of interior hall space and 35,000 square metres of leased exterior space, serving as critical infrastructure nodes in Germany's e-commerce logistics network.
The entire portfolio is leased to Hermes Germany GmbH under a long-term agreement exceeding 11 years with three consecutive two-year extension options, providing contractual cash flow visibility and operational stability. Hermes Germany, a subsidiary of the Otto Group, represents a high-quality institutional tenant as the largest independent logistics provider for business-to-consumer shipments in Germany outside the postal service. The company operates more than 14,000 package shops nationwide and executes deliveries to approximately 1.5 million customers daily, underpinning the creditworthiness and operational reliability of the lease structure. The four properties represent a subset of Hermes' strategically positioned network of 18 distribution centres in Germany, which the company carefully selected to optimize service coverage in specific geographic markets.
PATRIZIA's Amsterdam-based Logistics Team executed the acquisition directly from project developer May & Co., which had maintained ownership and operation of the properties for four years. According to Arthur Tielens, Managing Director of PATRIZIA's Logistics Team, the transaction reflects the firm's strategy to "further expand our involvement in the quickly growing e-commerce logistics market." This acquisition is part of a broader capital deployment phase for the Pan-European fund, which has simultaneously acquired logistics properties across France, Belgium, the Netherlands, and Germany over recent months, building a geographically diversified portfolio positioned to capture sustained demand from omnichannel retail and fulfillment expansion across continental Europe.
The entire portfolio is leased to Hermes Germany GmbH under a long-term agreement exceeding 11 years with three consecutive two-year extension options, providing contractual cash flow visibility and operational stability. Hermes Germany, a subsidiary of the Otto Group, represents a high-quality institutional tenant as the largest independent logistics provider for business-to-consumer shipments in Germany outside the postal service. The company operates more than 14,000 package shops nationwide and executes deliveries to approximately 1.5 million customers daily, underpinning the creditworthiness and operational reliability of the lease structure. The four properties represent a subset of Hermes' strategically positioned network of 18 distribution centres in Germany, which the company carefully selected to optimize service coverage in specific geographic markets.
PATRIZIA's Amsterdam-based Logistics Team executed the acquisition directly from project developer May & Co., which had maintained ownership and operation of the properties for four years. According to Arthur Tielens, Managing Director of PATRIZIA's Logistics Team, the transaction reflects the firm's strategy to "further expand our involvement in the quickly growing e-commerce logistics market." This acquisition is part of a broader capital deployment phase for the Pan-European fund, which has simultaneously acquired logistics properties across France, Belgium, the Netherlands, and Germany over recent months, building a geographically diversified portfolio positioned to capture sustained demand from omnichannel retail and fulfillment expansion across continental Europe.
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