Deutsche Lagerhaus Gesellschaft
STRONG START ON THE GERMAN LOGISTICS MARKET
The acquisition of a 50% stake in Deutsche Lagerhaus Gesellschaft has given IMMOFINANZ a strong position on the German logistics market. Over the coming years this firm intends to accelerate its growth course throughout Europe.
IMMOFINANZ set a milestone at the start of 2006 with the acquisition of a 50% stake in the well-known German logistics operator Deutsche Lagerhaus GmbH & Co.KG through its IMMOWEST regional holding company. Plans call for an increase in this holding up to 75% in the coming years, which will make the IMMOFINANZ Group the majority shareholder.
Deutsche Lagerhaus, a highly experienced manager of logistics facilities, had 14 modern locations with roughly 320,000 sqm of space at the time the acquisition was completed. These facilities are located in major German cities such as Nürnberg, Hannover and Freiburg as well as key traffic junctions like Nordrhein-Westfalen, and generally have water, rail and road connections.
IMMOFINANZ intends to carry out a major part of its expansion plans in the logistics sector through this new subsidiary, and will also use this know-how for the management of numerous other logistics objects. The portfolio of Deutsche Lagerhaus will be significantly expanded in the coming years to more than triple the current fair value of EUR 100 million. The first two acquisitions were completed shortly after the end of the reporting year in June and July 2006. An object with excellent water, rail and road links was acquired in the harbour of Neuss am Rhein, IMMOFINANZ purchased a property that will be completed in 2007 and is now fully rented through a long-term contract.
However, the growth course of Deutsche Lagerhaus will not be limited to Germany. Projects are also planned for development in Switzerland and, above all, the rapidly growing logistics markets in Central and Eastern Europe. IMMOFINANZ intends to utilise the established corporate structures and broad-based experience of Deutsche Lagerhaus in the management of logistics facilities, especially objects in harbour areas that offer well-developed connections to transportation networks, in order to further strengthen its position in this sector. An overview of properties in the IMMOFINANZ portfolio is provided on objects in the portfolio of IMMOFINANZ Immobilien Anlagen AG and in the attached property guide.
The acquisition of a 50% stake in Deutsche Lagerhaus Gesellschaft has given IMMOFINANZ a strong position on the German logistics market. Over the coming years this firm intends to accelerate its growth course throughout Europe.
IMMOFINANZ set a milestone at the start of 2006 with the acquisition of a 50% stake in the well-known German logistics operator Deutsche Lagerhaus GmbH & Co.KG through its IMMOWEST regional holding company. Plans call for an increase in this holding up to 75% in the coming years, which will make the IMMOFINANZ Group the majority shareholder.
Deutsche Lagerhaus, a highly experienced manager of logistics facilities, had 14 modern locations with roughly 320,000 sqm of space at the time the acquisition was completed. These facilities are located in major German cities such as Nürnberg, Hannover and Freiburg as well as key traffic junctions like Nordrhein-Westfalen, and generally have water, rail and road connections.
IMMOFINANZ intends to carry out a major part of its expansion plans in the logistics sector through this new subsidiary, and will also use this know-how for the management of numerous other logistics objects. The portfolio of Deutsche Lagerhaus will be significantly expanded in the coming years to more than triple the current fair value of EUR 100 million. The first two acquisitions were completed shortly after the end of the reporting year in June and July 2006. An object with excellent water, rail and road links was acquired in the harbour of Neuss am Rhein, IMMOFINANZ purchased a property that will be completed in 2007 and is now fully rented through a long-term contract.
However, the growth course of Deutsche Lagerhaus will not be limited to Germany. Projects are also planned for development in Switzerland and, above all, the rapidly growing logistics markets in Central and Eastern Europe. IMMOFINANZ intends to utilise the established corporate structures and broad-based experience of Deutsche Lagerhaus in the management of logistics facilities, especially objects in harbour areas that offer well-developed connections to transportation networks, in order to further strengthen its position in this sector. An overview of properties in the IMMOFINANZ portfolio is provided on objects in the portfolio of IMMOFINANZ Immobilien Anlagen AG and in the attached property guide.
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