UPSCALE and AURELIUS Real Estate Group Acquire Light Industrial Site near Dortmund
- Fully occupied property in Waltrop with over 10,000 square metres of effective floor area and nearly eleven hectares of plot area
- Joint development of a sustainable manufacturing and logistics site encouraged by convenient access to road, rail and waterway transportation
Frankfurt am Main / Luxembourg / Munich, 23 February 2022. In an off-market transaction, a joint venture formed by UPSCALE Real Estate (“UPSCALE”) and AURELIUS Real Estate Opportunities (“AREO”) acquired a plot occupied by several light industrial properties in Waltrop near Dortmund. The property was sold by a foreign investment entity. The parties agreed not to disclose the selling price.
Located on Borker Strasse, the site extends over more than 107,000 square metres, and is currently occupied by six warehouses with a lettable area of around 10,400 square metres. The buildings are fully occupied by several industrial companies and freight carriers. In addition, the site includes over 40,000 square metres in land reserves that UPSCALE and AREO intend to develop in coordination with the City of Waltrop into a modern site for logistics and light manufacturing companies in a near future.
UPSCALE will take over the asset and investment management, and pursue the future development of the site. “We are very much looking forward to the collaboration with the AURELIUS Real Estate Group and believe that the site has enormous potential for further development,” commented Dr Martin Braun, Founding Partner of UPSCALE Real Estate. “Due to the great location on the north-eastern edge of the Ruhr, we expect to see lively interest among occupiers from the manufacturing industry and the logistics sector,” elaborated Matthias Franz, Founding Partner of UPSCALE Real Estate.
Within the framework of the transaction, AREO was advised by AUREPA Advisors AG, whose mandate covers the exclusive investment and asset management for AREO’s equity investment and real estate portfolio. “Collaborations in the form of joint ventures are an integral component of our overall strategy. In UPSCALE, we have a very competent and well-networked partner by our side,” elaborated Hannes Eckstein, Founding Partner of the AURELIUS Real Estate Group. Jan Rehbock, also Founding Partner of the AURELIUS real estate group, added: “The approach we take with all of our projects is to optimise the value creation process. Not only does this acquisition perfectly complement our strategy, given the attractiveness of light industrial and logistics properties, but it is also a fit because of the superior location. With its multiple access to motorways, inland ports and rail transport, this site on the eastern edge of the Ruhr region offers considerable potential for development. Especially with a view to a sustainable mobility that favours rail-bound and water-bound means of transportation, this attractive site in Waltrop will enable us to meet investor demand for ESG-compliant floor space.”
During the acquisition, CBRE provided advisory in the context of an environmental due diligence that covered both the plot and the properties on it. The law firm of Arnecke Sibeth Dabelstein advised the parties on partnership law aspects.
AURELIUS Advisors SARL
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AURELIUS Advisors Ltd.
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AUREPA Advisors AG
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