Clifford Chance has advised Frasers Property Investments Europe on the acquisition of a logistics facilities package for EUR 257 million. The package comprises six Hermes logistics centres with rental space totalling around 75,500 square metres on a site of about 426,500 square metres. It was sold by German real estate investor ECE Projektmanagement GmbH & Co. KG.

The properties are located in Germany's key logistics markets in Heilbronn, Mainz, Berlin, Augsburg, Hamburg and Halle. The logistics centres in Heilbronn, Mainz and near Berlin have recently been completed, while those in Augsburg, Hamburg and Halle are scheduled to be opened in the course of 2018 or at the beginning of 2019. Hermes has signed long-term leases for all of the properties. They are part of a series of nine new logistics centres that ECE has developed for the parcel company.

Frasers Property Investments Europe (FPE) belongs to the Singapore-based real estate group Frasers Centrepoint Limited (FCL). FCL is a broadly diversified international property group with assets under management totalling around EUR 14.9 billion. It is listed on the Singapore stock exchange. In 2017, FCL took over Dutch company Geneba Properties N.V. and established FPE which will take on Geneba's real estate business following a squeeze-out.

The Clifford Chance team comprised partner Cornelia Thaler, counsel Dr. Kristina Jaeger, senior associates Agnieszka Anna Pikul (Munich), Manuel Lomb and Jörg Reinshagen as well as associate Isabel Freudenberg (all Real Estate) – all Frankfurt, partner Dr. Claudia Milbradt (Dusseldorf) and senior associate Dr. Alexandra Diehl (Frankfurt, both Litigation & Dispute Resolution) as well as partner Dr. Josef Brinkhaus and counsel Anette Hofmann (both Tax, Frankfurt).

Clifford Chance had recently already advised Frasers on the acquisition of the Greenfield logistics park in Freiberg am Neckar.