Patron Capital and Inbright acquire logistics asset for refurbishment

Patron Capital, in partnership with Inbright, has acquired a 13,700 m² light industrial property in Norderstedt, Germany, for an undisclosed amount.

Norderstedt

The joint venture plans to refurbish the asset to modern ESG standards.
Located in Hamburg's metropolitan region, the property benefits from its proximity to Hamburg Airport and major motorway connections, providing easy access to key European markets, including Germany, Denmark, the Netherlands, and Poland.
This is the fourth acquisition in Germany for Patron Capital and Inbright in the last 18 months as part of their joint investment program to create a portfolio of sustainable light industrial and logistics assets in Germany and Portugal.
The property, previously a logistics subsidiary for shoe retailer Goertz, will undergo a comprehensive refurbishment, including improved insulation, energy-efficient lighting, eco-friendly heating, modernized storage areas, and roof renovation. The revamp will also create flexible spaces suitable for various businesses.
Christoph Ignaczak, senior partner and investment director at Patron Capital, said: “Germany is a key market in Europe’s light industrial sector. With its location in the Hamburg metropolitan region, Norderstedt is ideally placed to meet increasing demand for flexible light industrial and last-mile logistics space. Through strategic investments of this kind, together with Inbright, we are actively responding to market opportunities by delivering the Grade-A, energy-efficient space modern occupiers want. We will continue to build the JV’s portfolio in a targeted manner. With over €200 million in investment capital, we are actively seeking additional properties in Germany’s light industrial sector with similar potential.”
Sebastian Pijnenburg, managing director of Inbright Development, said: “The combination of an excellent location, development potential, and the opportunity to implement sustainable credentials made this property in Norderstedt an ideal candidate for our portfolio strategy. We look forward to transforming this asset to its full potential, together with Patron Capital.”
Grossman + Berger brokered the transaction, while GSK Stockmann provided legal advice.