Madison International sets up a joint venture to develop Amazon warehouses in Germany

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Madison International Realty has set up a joint venture with Poland’s Griffin Real Estate to develop two Amazon logistics facilities in Germany.

Together with development partner Griffin, Panattoni, a leading European logistics services provider, the companies will build two custom-built properties with over 22,965 square feet and 97,951 square feet that have been leased to Amazon for a 15-year lease. leases with a combined investment of more than $ 95 million.

These two deals represent the first major acquisitions of Griffin in Europe outside of Poland and the second joint project of the Polish private investment manager with Madison International Realty.

Both companies have been working together since January 2020, when they launched their strategic partnership in the logistics sector in Poland.

One facility will be built in North Rhine-Westphalia, east of Cologne, with direct connections to the A4 and A45 motorways, located between Amazon’s fulfillment centers in Koblenz, Dortmund and Werne. Another facility will be built southeast of Lower Saxony’s largest city, Hanover, in the immediate vicinity of Wolfsburg (55 km east) at the intersection of important north-south (A7) and west-east (A2) routes.

These projects are planned as custom build investments designed to meet Amazon’s requirements to meet the special needs of modern logistics. The planned completion date for the construction of the first new delivery station is set for the end of 2021, and the second for the spring of 2022. Lease agreements with Amazon are signed for 15 years.

“This venture with two first acquisitions in Germany is a strategic victory for us at Griffin Real Estate and another milestone in our expansion. We are very pleased with our entry into the promising German logistics market. Initially focusing on the Polish market, we are constantly looking for further attractive opportunities for our international expansion, including in markets such as Spain and the Netherlands, ”said Nebil Senman, Managing Partner at Griffin Real Estate.

“Entering a new market, especially during a pandemic, can be challenging and not possible without the strong support of Madison International Realty. We are delighted that Madison has decided to work with us again as her investment partner, also in Germany, ”added Maciej Dijas, Managing Partner at Griffin Real Estate.

“We see both deals as an important milestone in our investment strategy in the European logistics sector, which enables us to leverage our advantageously located new assets in a long-term Amazon lease,” said Matthias Cordier, Managing Director of Madison International Realty.

“This venture is fully in line with our strategy of working together with those who we believe are outstanding local partners to seize opportunities in fast growing sectors and markets, and we will strive to continue our successful partnerships with Griffin Real Estate and Panattoni to further develop and expand and harness the power of the European logistics sector, ”said Derek Jacobson, co-investment director at Madison International Realty.

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