Greykite acquires industrial portfolio in Germany

Greykite European Real Estate Fund I, in partnership with troveinvest, acquired a 48,000 m² industrial portfolio in Frankfurt and Düsseldorf.

Greykite Lagerhome

The acquisition, from a private domestic investment group, marks the start of Lagerhome's German investment program, which has so far acquired nearly €300 million in assets.
The portfolio, 93% occupied with an average lease term of 3.1 years, will be managed by minority partner troveinvest, with a focus on maximizing value through active leasing and strategic investments.
The acquisition was completed off-market from a private domestic investment group. The properties are located in highly attractive, underserved, airport-oriented submarkets in Frankfurt and Düsseldorf, which are experiencing strong demand from a wide range of companies.
Michael Abel, founder and CEO of Greykite, commented: "Expanding the Lagerhome platform to Germany, one of Europe's largest and most liquid MLI markets, is a strategic step in our portfolio construction. As one of Greykite's key target markets, Germany offers significant investment opportunities and is an excellent fit with our focused and thematic strategy of building scalable platforms. Furthermore, the expected €900 billion earmarked for defense and infrastructure over the next three years will significantly increase demand for industrial space."
Dan Valenzano, senior partner at Greykite, added: "This strategic market entry into Germany builds on our strong early successes in Sweden and the UK. This was a unique opportunity to acquire two high-quality industrial assets close to two of Germany's seven largest markets, Frankfurt and Düsseldorf. With troveinvest, we have a first-class partner at our side, with whom we look forward to further acquisitions in Germany's most established and attractive industrial submarkets, where a critical undersupply of modern space remains."
Ulf Christiansen and Daniel Rubinstein, managing partners of troveinvest, added: "This transaction and our joint venture with Greykite mark an important milestone following the founding of troveinvest earlier this year. Having identified the MLI sector as a strategic focus, including for Germany, we are pleased to close this first investment and look forward to scaling the Lagerhome platform in the country's key MLI regions."