Boreal expands German logistics footprint

European logistics investor Boreal has expanded its German portfolio to 370,000 m2 with its latest acquisition.

Stuttgart logistics - Boreal

This marks the joint venture's fourth German purchase this year and ninth since 2023. The newly acquired warehouse in Bremerhaven, fully leased to Maersk, was bought from DLH Real Estate. This follows earlier 2024 acquisitions in Frankfurt, Stuttgart, and Hannover, which collectively added over 100,000 m2 to the portfolio.
Boreal's broader European portfolio now encompasses more than 50 assets, totalling 1.6 mln m2 across the UK, Spain, Italy, France, and the Netherlands, in addition to its growing German footprint.
The recently completed (2024) Bremerhaven warehouse, located in Northern Europe's fourth-largest seaport, boasts top-tier ESG credentials with DGNB Gold certification and a long-term lease to Maersk.
In August, the JV acquired a 28,000 m2 urban warehouse in Böblingen, part of Germany's strong Stuttgart economic region. July saw the acquisition of two prime multi-let warehouses from Aberdeen, totalling 44,000 m2, in Frankfurt's logistics markets of Florsheim and Erlensee. The Florsheim asset is DGNB Gold certified, and the Erlensee asset will be upgraded to BREEAM Excellent. These additions boost the JV's Frankfurt holdings to 120,000 m2 across four assets, including a 33,000 m2 warehouse acquired in late 2024.
In the second quarter, a 34,000 m2 refurbished warehouse in Lehrte, Hannover, was acquired from Swiss Life. This asset, near the A2 motorway and major domestic occupiers, will undergo refurbishment to achieve BREEAM Very Good certification.
James Farmer, partner at Boreal IM, commented: “The opportunity in Germany is underscored by solid fundamentals, including attractive supply-demand dynamics in the right locations. We are harnessing our experience across cycles in the German market to acquire high-quality, prime-located and institutional-grade assets with potential to unlock alpha through targeted ESG-focused asset management strategies.”