Nova Ambiente assists Vengrove on the acquisition of a Logistics Property in Leverkusen

Vengrove, the pan-European property investment manager, has completed the acquisition of a logistics property in Leverkusen for €23.1million. The property comprises a modern logistics unit spanning 16,571m² with high-quality fittings.

Situated on a central transport corridor linking Leverkusen and Cologne to Düsseldorf, it benefits from excellent transport links throughout the Rhine-Ruhr region.

The tenant is TMD Friction, a leading global supplier of brake friction technology. The lease expires at the end of 2027. With utilisation of the site at only 21%, there is considerable potential for value appreciation at Vengrove. Additionally, a reserve area of around 15,000 m² offers further development opportunities.

Vengrove was supported in Environmental matters by Ambiente Deutschland GmbH

DEAL - Magazine | Real Estate | Investment | Finance