DLA Piper advises The Carlyle Group on the acquisition of prime German distribution logistics assets
DLA Piper has advised global investment firm The Carlyle Group (NASDAQ: CG) on its acquisition of a portfolio of three distribution logistics assets in Germany. The portfolio comprises three high-quality assets strategically located near the major urban and trade areas of Munich, Hanover and Ulm. In aggregate, the portfolio totals 51,800 sqm of space and is 100% occupied.
Equity for the transaction came from Carlyle Europe Realty (CER), a EUR540 million pan-European real estate fund. In October 2020, CER acquired a portfolio of 27 distribution logistics assets in France and Germany. Today’s announcement represents the platform’s first add-on acquisition. The European logistics space has been a key focus for CER since 2016. While the sector has enjoyed rapid growth in recent years, the Covid-19 pandemic has accelerated this with higher delivery volumes resulting from the continued shift towards e-commerce.
The transaction follows a busy period for the Carlyle Europe Realty fund, which included the sale of CER’s Northern Italian logistics platform for EUR270 million in December 2020. In February 2020, CER sold its previous French logistics platform, Hub&Flow.
The Carlyle Group is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. The Carlyle Group employs more than 1,800 people in 31 offices across six continents.
The DLA Piper team was led by real estate partner Fabian Mühlen and also comprised partner Dr Torsten Pokropp (Finance), senior associates Sonja Beier (Real Estate) and Martin Wilmsen (Finance) as well as associate Alexander Lamers (Real Estate, all Frankfurt).
From DLA Piper's office in Luxembourg partner Xavier Guzman and associate Fanny Denoel and from DLA Piper's office in Paris partner Erwan Lacheteau and senior associate Izabela Kwarcinska (all Finance) also advised on the transaction.