Singapore-based Elite Partners Capital has acquired Automotive Giant’s global logistics centre in Germany through its flagship Elite Logistics Fund II, a pan-European logistics fund supported by a sovereign wealth fund and a network of family offices across Asia. This acquisition follows Elite’s successful divestment of the first installment of its Logistic Fund Series (Elite Logistics Fund I) to Blackstone in 2021, achieving an attractive IRR of over 30 percent.
Located within Ettlingen West’s industrial zone, the large-scale multi-user logistics park features extensive transportation infrastructure, including direct access to the A5, A8, and A65 motorways, proximity to the Port of Karlsruhe on the Rhine waterway, and close links to major international airports in Frankfurt and Stuttgart. The site also benefits from local bus services and suburban railway access, ensuring a skilled workforce for the park’s warehouses and offices.
Spanning 180,000 sqm, the logistics park offers a flexible layout conducive to third-party reuse. Currently, over 85 percent of its net lettable area is leased long-term to an automotive giant as their global logistics hub.
Elite Partners Capital plans to collaborate closely with the tenant to enhance the property’s environmental, social, and governance (ESG) specifications, aiming for DGNB Gold Certification. The remaining lettable areas are occupied by diverse engineering firms, supporting regional industrial growth.
Victor Song, co-founder and CEO of Elite Partners Capital, emphasised their strategic approach to acquiring quality assets in key European markets amidst stabilising interest rates. The transaction, facilitated by CBRE’s Capital Markets team in Germany, involved advisory support from Taylor Wessing, Alvarez and Marsal, and TA Europe on behalf of Elite Partners Capital.
This acquisition underscores Elite Partners Capital’s commitment to leveraging strategic opportunities in the European logistics sector, backed by strong financial fundamentals and sustainable growth strategies.
