The Carlyle Group acquires an additional prime distribution logistics asset in Germany

Munich, Germany - Global investment firm The Carlyle Group (NASDAQ: CG) today announced that it has acquired a sizeable distribution logistics asset located in Germany from Luxembourg based Incantada Capital S.á.r.l., a vehicle of European Property Holdings S.á.r.l. which belongs to Johannesburg-listed MAS Real Estate Inc.

The asset, which totals 13,090 sq m, is situated in a prime location with easy access to Munich’s city centre. It adds to Carlyle’s growing portfolio of complementary distribution logistics assets in Germany.

Equity for the investment came from Carlyle Europe Realty (CER), a €540 million pan-European real estate fund. In October 2020, CER acquired a portfolio of 27 distribution logistics assets in France and Germany, and added three additional German assets to the platform in January 2021. Today’s acquisition further increases the scale of the platform and grows CER’s exposure to the German distribution logistics segment, a core part of the fund’s investment strategy in Europe.

The European logistics market, an area of focus for the fund since 2016, has experienced increasingly rapid growth in recent years. There has been an accelerated shift of spending patterns towards e-commerce as a result of the Covid-19 disruption, increasing demand for distribution logistics space in established urban hubs.

Erik Orbach, Director on the Carlyle Europe Realty advisory team, said: “This acquisition is in line with CER’s strategy of identifying well-located assets in the distribution logistics space as we continue grow our leading and scalable platform. It represents a rare opportunity to acquire a building with significant embedded value-creation potential through repositioning. The transaction also increases our exposure to the attractive Munich logistics market with the addition of a prime urban location. We continue to remain active in identifying and acquiring additional logistics opportunities in both Germany and across other key European markets.”

CER has also been active in exiting distribution logistics assets in recent months, having sold its Northern Italian logistics platform for €270 million in December 2020 and its previous French logistics platform, Hub&Flow, in February 2020.

Carlyle was advised by Actum Real Estate Investment (commercial), DLA Piper (legal), PMJL (technical) and PWC (tax). MAS was advised by JLL (commercial) and Hogan Lovells (legal).

The single logistics asset is part of the disposal of the “Footprint” portfolio, which includes 23 EDEKA supermarkets in Germany, among other assets.

ENDS

Press Enquiries:
The Carlyle Group:
Charlie Bristow
Tel: +44 (0) 7384 513568
Email: charlie.bristow@carlyle.com

About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Investment Solutions. With $246 billion of assets under management as of December 31, 2020, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs 1,825 people in 29 offices across five continents. Further information is available at www.carlyle.com. Follow The Carlyle Group on Twitter @OneCarlyle.

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