26 Nov 2020

Tristan Logistics Joint Venture Makes Debut Investment in South-West Germany

Source: Tristan Capital Partners Press Release

26 November 2020, London: A joint venture between the EPISO 5 opportunity Fund and S.N.E.L BeratunsgesellschaftmbH (“SNEL”) has closed on the first asset for a new logistics strategy investing in well-located, value-add properties in Germany and Austria.

EPISO 5, the opportunity Fund advised by Tristan Capital Partners, and SNEL acquired the 121,505 sqm logistics site in south-west Germany from Saar IV Sarl, a Fund advised and managed by Marathon Asset Management LP and headquartered in New York. SNEL had initially acted on behalf of Marathon Asset Management in repurposing and de-risking the site and will now be a significant co-investor, acting as the local operating partner for EPISO 5.

Located within the logistics park “Kleberareal” in Saarland, the asset will be in the vicinity of Saarbruecken. Following the acquisition of the site, the Fund will focus on the phased development of multiple warehouses totaling approximately 55,000 sqm of lettable space.

This new Joint Venture (JV) represents an extension of a former partnership between funds advised by Tristan and Alpha Industrial, with whom the parties invested circa €460 million. The JV is focused on replicating this success in additional locations to Kleberareal.

Kristian Smyth, Executive Director at Tristan Capital Partners, said: “The acquisition of this well-located site is the first step in a broader strategy focused on expanding our German and Austrian logistics footprint. This strategic JV will be focused on value-add opportunities with gross lettable areas in excess of 50,000sqm in supply constrained locations.”

ENDS

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