Frankfurt am Main, June 28, 2024 – The joint venture between TPG Angelo Gordon and aam2core Holding AG has sold the Ettlingen industrial park, located south of Karlsruhe, to Elite Partners Capital. The industrial park comprises a site area of approximately 180,000 m². The purchase price was not disclosed.
A long-standing tenant is a leading German automotive company, which leases more than 120,000 sqm. The property, located on Einsteinstraße in the Ettlingen-West business park, includes several warehouses and ten modern office buildings. The property also features a three-story parking garage. The garage has 700 parking spaces.
The property was acquired by Angelo Gordon in the summer of 2020 in a joint venture with aam2core. Since the acquisition, aam2core has carried out extensive tenant improvements, secured long-term leases with existing tenants, reduced energy consumption and optimized process workflows.
Even after the sale, aam2core remains involved and will oversee the installation of a photovoltaic system. The new owner's goal is to certify the park and switch to a sustainable energy supply.
Michael Schleich, Member of the Management board at aam2core, stated:
“We acquired the industrial park in 2020, optimized it through our active asset management and have now successfully sold it. As with all our transactions, the focus here was on ESG, as a demonstrably positive impact on the environment and society is important to us in our real estate projects.”
The seller was advised on the transaction by REIUS Rechtsanwälte Partnerschaft mbB.
About aam2core Holding AG
aam2core is a real estate investment manager for residential, office and logistics / light industrial properties for institutional and non-institutional investors. Its subsidiary, aam2core Service GmbH - a BaFin-registered capital management company - acquires and manages office properties for (semi-)professional investors via direct mandates and seven specialized fund solutions. The company manages a total of EUR 3.4 billion in assets with a total area of 1.675 million sqm, serviced by approximately 100 employees. aam2core invests in Germany and Austria. The company is headquartered in Frankfurt am Main with offices in Berlin, Bad Homburg, Düsseldorf, Grünwald and Leipzig. The Management Board of aam2core Holding AG consists of Jens Ebert, Stefan de Greiff and Michael Schleich.
Press release of June 28, 2024
veröffentlicht von Süheda Zock
Marketing Manager
aam2core Holding AG