Deka Immobilien acquires DLH logistics properties in Austria
Deka Immobilien Investment GmbH has acquired two logistics properties and secured two project developments in the immediate vicinity of Vienna Schwechat Airport under a purchase agreement. The project developer and seller is Deutsche Logistik Holding, a company of the family-run Zech Group.
The properties are to be included in the portfolio of the sector fund WestInvest TargetSelect Logistics, which is aimed at institutional investors. The parties have agreed not to disclose the purchase price.
The two properties “Gamma 1” and “Gamma 2” belong to the Industrial Campus Vienna East, which will be Austria’s largest logistics campus upon completion with at least six buildings and a total lettable area of more than 120,000 m². The two distribution centres built in 2017 and 2018, respectively, cover a lettable area of almost 33,000 m² and 65 parking spaces. They are fully leased to Post Systemlogistik GmbH, a subsidiary of Austrian Post, and Arvato Logistics Services GmbH, a global service provider of the Bertelsmann Group.
The two project developments “Alpha 2” and “Gamma 3”, also in the Industrial Campus Vienna East, shall be completed by mid-2020 with a lettable area of more than 41,000 m² and 131 parking spaces. Clients will include Hornbach Baumarkt AG and Rudolph Logistik GmbH.
Two more properties in the park are still in the planning stage. With this transaction, the fund management of WestInvest TargetSelect Logistics is entering the Austrian logistics market.
DekaBank is the Wertpapierhaus (securities services provider) of the German Savings Banks Finance Group. Together with its subsidiaries it forms Deka Group, which has total customer assets of around EUR 306 billion (as at 30/09/2019) and around 4.7 million securities accounts, making it one of the largest securities services providers and real estate asset managers in Germany.
The Deka Group’s global real estate expertise is pooled in its Real Estate Division. The two investment companies Deka Immobilien Investment GmbH and WestInvest Gesellschaft für Investmentfonds mbH manage and service around EUR 36 billion in real estate assets (as at 31/12/2018).