Kajima and Savills Investment Management have strengthened their strategic partnership portfolio with the acquisition of logistics real estate partner, Panattoni’s, interest in a 14,000 sqm logistics hub in Hamburg, Germany which is housed by one of the world’s largest online retailers.
The rapid growth of e-commerce accelerated during the Coronavirus pandemic, which has fueled the demand for logistics and distribution hubs across Europe. In Germany, e-commerce has grown rapidly but remains half the size of the UK market which reflects potential growth in the upcoming years. The new acquisition in Hamburg is perfectly located to benefit from structural changes in the logistics and retail market.
Daniel Bumpstead, Investment Director at Kajima, commented: “Whilst Kajima has been an active investor in European logistics development for over five years now, having developed over 25 industrial parks across the continent, we are now actively looking to complement our development business with a longer-term strategy of holding prime asset from our development portfolio in partnership our key institutional clients. We have already identified a number of target opportunities with which to grow this side of the business.”
The new acquisition follows from successful development and investment activity carried out by Kajima in Europe’s logistic sector, including the sale of two industrial assets in Gdansk and Sosnowiec, Poland providing 160,000 sqm of logistic accommodation. Kajima now has a presence in the logistics market in Germany, Netherlands, Poland, Czech and Spain and have a strong appetite to continue expanding the portfolio.