Ashurst advises Tritax EuroBox on the acquisition of its second logistics asset in Germany

Tritax EuroBox plc, a UK investor focusing on Continental European logistics assets, announced that it has acquired a prime, modern logistics warehouse asset near Bochum, in the Rhine-Ruhr region of Germany. The total consideration was €35.7 m.

The new property, purpose-built in January 2018, has a gross internal area of 36,400 sqm, divided into four units, with significant yard area and parking. One unit is leased to SVH Handels GmbH, a subsidiary of Würth Group, a second unit is leased to WM Group GmbH, a logistics service provider and part of LB GmbH, which employs over 800 people across nine locations in Germany, Austria and the UK. Seller Dietz AG, project developer and asset manager to Tritax EuroBox in Germany, has retained a small interest in the acquired asset.

This is the second acquisition in a row for Tritax EuroBox in Germany, subsequent to the previous purchase of a distribution center in Peine. Ashurst has been advising Tritax on both acquisitions.

The Ashurst team was led by partners Dr Liane Muschter, Nicolas Deuerling (both Real Estate) and Jan Krekeler (Corporate/M&A). They were supported by associates Till Pflug and Florian Wörner, paralegal Daniel Weimann (all Real Estate) and associate Anna-Maria Krekeler (Corporate/M&A). Partner Dr Martin Bünning and senior associate Dr Susanne Knoch advised on tax aspects (all Frankfurt).