Starwood Capital acquires two German logistics assets

Starwood Capital Group has acquired two major logistics properties, collectively known as '2Up,' from Wealthcap Immobilienfonds Deutschland 30.

Donauwoerth - Sonar Real Estate

These fully-leased properties, totalling approximately 69,000 m2 of rental space in Munich-Schwaig and Donauwörth, will now be asset-managed by Sonar Real Estate, which acted as transaction manager for the deal.
The larger property in Donauwörth, spanning about 37,000 m2, is a highly specialised on-site logistics centre for its main tenant, Airbus Helicopters, and is integrated into their factory employing over 7,500 people.
The second property, roughly 32,000 m2, is situated near Munich Airport in Schwaig. Its primary tenant is ITG Group, a global e-commerce-focused logistics provider, which also houses its German administrative headquarters there.
The '2Up' acquisition strategically targets growing logistics sectors like air & defence and e-commerce. Both locations are considered crucial within their respective supply chains due to their high-quality positions, specialised regional supply capabilities, and proximity to key production hubs, offering strong potential for rental growth.
Nick Puschkasch, managing partner of Sonar, said: “Transactions involving strategic logistics properties in prime locations continue to attract considerable investor interest, especially when they address structural growth markets and feature long-term leases with creditworthy users. Our role as investment manager and the subsequent mandate for asset management underscore the confidence that institutional investors place in our expertise throughout the entire real estate life cycle.”
DLA Piper advised the seller, while the buyer was advised by Greenberg Traurig and Deloitte. Additionally, TA Europe performed technical due diligence, and BNP Paribas Real Estate acted as the broker for the transaction.