Elite Partners Capital, a Singapore-based alternative investment management firm, has successfully acquired a significant logistics center located in the Industrial Zone of Ettlingen West, Germany. This multi-use facility is strategically positioned near Stuttgart, the automotive hub of Germany.
The property was sold by a joint venture between TPG Angelo Gordon, a global alternative investment firm, and aam2core Holding, a Germany-based investment and asset management company. The transaction was facilitated by CBRE’s Capital Markets Group in Germany.
This industrial site benefits from excellent connectivity, with access to major motorways, the Port of Karlsruhe—one of the key inland ports along the Rhine River—and proximity to major international airports in Frankfurt and Stuttgart.
According to a June 27 announcement by Elite Partners Capital, the acquisition was made through the firm’s flagship Elite Logistics Fund II. This Pan-European logistics fund is backed by a sovereign wealth fund, along with support from various family offices across Asia.
Victor Song, co-founder and CEO of Elite Partners Capital, emphasized that the current favorable interest rates provide a strategic opportunity for investors to re-enter the market.
The logistics center spans approximately 1.94 million square feet, with over 85% of its net lettable area leased to a major automotive company on a long-term lease. This facility serves as the company’s global logistics hub.
Elite Partners Capital plans to enhance the facility’s environmental, social, and governance (ESG) standards, to achieve the DGNB Gold Certification, awarded by Germany’s sustainable building council.