DÜSSELDORF, Germany--(BUSINESS WIRE)--The cross-dock asset is located near both the A8 motorway and the city center of Augsburg. The asset consists of approximately 4.000 m2 of warehouse and office space with additional outside storage area that offers potential for further expansion. “The property is highly functional with excellent connection to the road network located in the economic strong region of Schwaben,” reports Matthias Femes, Director of Investments for Dream Advisors.
Dream has also added a logistics asset in Eppertshausen in Greater Frankfurt that consists of approximately 28,000 m2 and is in an established logistics area with superb access to the motorway network. The property is nearly fully leased to different tenants of good covenant and, like the asset in Augsburg, allows for further expansion. This is the REIT’s second asset in Greater Frankfurt.
As Bruce Traversy, Head of Investments for Dream Industrial REIT, explains, “Last year we added 41 high quality logistics and light industrial assets in Europe to the REIT’s portfolio. We are actively seeking to acquire more assets in strong locations throughout Germany.”
About Dream Advisors
Dream Advisors is affiliated with the Toronto-listed Dream Industrial REIT (TSX: DIR.UN). DIR currently owns a €2 billion diversified industrial real estate portfolio comprising 174 assets totaling approximately 2.5 million square meters of gross leasable area in key markets across Canada, U.S., and Europe.
In addition, over the past several years Toronto and Frankfurt listed Dream Global REIT assembled a portfolio of €4.3 billion in Europe and is well known in many local European markets.
During 2020, the REIT acquired 41 industrial and logistics properties in the Netherlands and Germany totaling about €300 million through 13 separate transactions.
Dream Advisors expects to continue to actively acquire European assets in 2021. Dream Advisors has been assisted in these German deals by Greenberg Traurig (legal) and Duff & Phelps REAG (technical).
