Key Takeaways
- • Sonar Real Estate GmbH acted as transaction manager on the buyer side for the acquisition of two large-scale German logistics properties, known as "2Up," totaling around 69,000 m² of rental space in Munich-Schwaig and Donauwörth.
- • Wealthcap Immobilienfonds Deutschland 30 GmbH & Co. KG sold the fully let properties to a special fund advised by Starwood Capital Group and administered by IntReal.
- • Sonar will take over asset management of the properties following the transaction, a mandate that underscores institutional investor trust in its expertise, according to Managing Partner Nick Puschkasch.
- • The Donauwörth site (around 37,000 m²) is leased to Airbus Helicopters and functions as an on-site logistics center within a plant with over 7,500 employees.
- • The Schwaig site (around 32,000 m²), near Munich Airport, is leased to ITG Group, an e-commerce-focused fulfillment provider that uses it as its German administrative headquarters.
Summary
Sonar Real Estate GmbH (Sonar) provided structural support for the acquisition of two large-scale logistics properties known as "2Up" as transaction manager on the buyer side, according to the company's announcement. The properties, with a combined rental area of around 69,000 m², were sold by Wealthcap Immobilienfonds Deutschland 30 GmbH & Co. KG to a special fund advised by Starwood Capital Group and administered by IntReal. Both assets are fully let. Following closing, Sonar will assume asset management of the properties.
The larger asset, in Donauwörth, covers around 37,000 m² and is leased to Airbus Helicopters. The property is closely integrated into the plant site, which employs more than 7,500 people, where it operates as a highly specialized on-site logistics center. The second asset, in Schwaig in the immediate vicinity of Munich Airport, spans around 32,000 m². Its main tenant is the ITG Group, a global fulfillment and logistics service provider with a particular focus on e-commerce, for which the site also serves as German administrative headquarters.
Nick Puschkasch, Managing Partner of Sonar, said that transactions involving strategic logistics properties in premium locations continue to attract high investor interest, particularly where they target structural growth markets and feature long-term leases with strongly rated tenants. He added that the subsequent asset management mandate reflects institutional investors' trust in Sonar's expertise across the real estate lifecycle.
According to the announcement, the transaction targets growth segments of the logistics market, notably air and defense and e-commerce. Beyond rent development potential, the company cited location quality, regional supply expertise and proximity to major production clusters as factors underscoring the strategic importance of both sites within the supply chain.
Advisers on the deal included DLA Piper, which advised the seller; Greenberg Traurig, which provided legal counsel to the buyer side; Deloitte, which handled buyer-side tax matters; TA Europe, which conducted technical due diligence for the buyer; and BNP Paribas Real Estate, which acted as intermediary. The announcement did not disclose the purchase price.
The larger asset, in Donauwörth, covers around 37,000 m² and is leased to Airbus Helicopters. The property is closely integrated into the plant site, which employs more than 7,500 people, where it operates as a highly specialized on-site logistics center. The second asset, in Schwaig in the immediate vicinity of Munich Airport, spans around 32,000 m². Its main tenant is the ITG Group, a global fulfillment and logistics service provider with a particular focus on e-commerce, for which the site also serves as German administrative headquarters.
Nick Puschkasch, Managing Partner of Sonar, said that transactions involving strategic logistics properties in premium locations continue to attract high investor interest, particularly where they target structural growth markets and feature long-term leases with strongly rated tenants. He added that the subsequent asset management mandate reflects institutional investors' trust in Sonar's expertise across the real estate lifecycle.
According to the announcement, the transaction targets growth segments of the logistics market, notably air and defense and e-commerce. Beyond rent development potential, the company cited location quality, regional supply expertise and proximity to major production clusters as factors underscoring the strategic importance of both sites within the supply chain.
Advisers on the deal included DLA Piper, which advised the seller; Greenberg Traurig, which provided legal counsel to the buyer side; Deloitte, which handled buyer-side tax matters; TA Europe, which conducted technical due diligence for the buyer; and BNP Paribas Real Estate, which acted as intermediary. The announcement did not disclose the purchase price.
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