Catella Investment Management (CIM) and the KVG platform Catella Real Estate AG have leased a logistics and production property in Redwitz an der Rodach, Bavaria, to the Munich-based company easy2cool on behalf of the Catella Logistik Deutschland Plus (CLD+) fund. The property is located on a plot of around 36,000 square metres in the Redwitz-Ost industrial estate at Dr.-Ludwig-Straße 7. It comprises a total lettable area of approx. 17,400 square metres, which is spread over approx. 13,700 square metres of logistics space, approx. 2,900 square metres of mezzanine space and approx. 700 square metres of office, social and technical space. The lease term is more than ten years. The property was acquired in 2021 for the open-ended special real estate fund CLD+, which meets the criteria set out in Article 8 of the EU Disclosure Regulation.
Michael Keune, Managing Director of Catella Investment Management, says: "The CLD+ fund is currently investing in warehouse and logistics properties in Germany and neighbouring countries. We acquired the existing asset in Redwitz an der Rodach in 2021 because it has very good accessibility, a high potential for ESG measures and a high level of building variability. The property has an above-average number of gates that are grouped around the hall body, as well as a ceiling height of up to 15 metres to the lower edge of the truss. As a result, it has a very good third-party usability."
The new tenant easy2cool specialises in individual, passive cooling solutions and offers holistic cooling concepts for the protection of temperature-sensitive goods. As part of the lease, the company is relocating its production site from Lichtenfels to Redwitz an der Rodach and moving into the entire property as a single tenant. Around half of the space is used for the production of ecological cool boxes, cold packs and paper-based insulation, as well as dry ice pallets from biological sources. The remaining 50 percent of the space is allocated to warehouse and logistics uses for the e-commerce fulfillment solutions that easy2cool offers for goods requiring refrigeration. In the future, around 250 employees will work at the site.
Sebastian Leicht, Managing Director of easy2cool, says: "With its ideal mix of modern and energy-efficient production, warehouse and office space as well as good accessibility, our new production site offers us the ideal conditions for both the manufacture of our insulation products and our fulfillment. The future emission-free heating and the high energy standard also help us with our sustainable production method."
The property was built in two construction phases in 1994 and 1997 and will be converted in the course of the new lease and extensively and sustainably renovated on the basis of the CLD+'s decarbonisation strategy. Other measures include converting the lighting to LED, renovating the offices and social rooms as well as the floor and roof, retrofitting a photovoltaic system and replacing the existing oil heating system with a CO2-neutral heating system that uses energy from waste heat. In addition, the electricity availability at the site will be increased from 570 kilowatts to 2.5 megawatts in two steps.
Wolfgang Oelke, Business Unit Manager Commercial at CIM, says: "For us, the extensive renovation work on the property in Redwitz an der Rodach is the prime example of our manage-to-green strategy. In addition to the technical and structural measures, we were able to conclude a green lease with easy2cool and the company also produces its cooling solutions sustainably. This makes the property a reference for us for future manage-to-green projects. The implementation would not have been possible in the short time without the great support of Mayor Jürgen Gäbelein, District Administrator Christian Meissner, Head of the Building Department Harald Hucke, the two fire protection experts Michael Weidinger and Dr. André Spindler as well as architect Johannes Morhard."
The municipality of Redwitz an der Rodach is located between Bayreuth, Bamberg and Coburg and is very well connected to the A73 and A9 motorways via the B173 and B289 federal roads. In addition, the Nuremberg-Erfurt route is an efficient and fast rail connection, which is also of great importance for freight traffic. In addition, the port of Bamberg provides access to the Main and thus a connection to the inland waterways in Germany.
Catella was legally advised by Norton Rose Fulbright. Logivest acted as a logistics real estate consultant.
About the "Catella Logistik Deutschland Plus" fund
"Catella Logistik Deutschland Plus" has a target volume of around EUR 500 million and invests in warehouse and logistics properties in Germany and other European countries. The investment focus is on modern properties in good to very good locations in established logistics regions with proximity to transport hubs and conurbations as well as production centres. The investment strategy focuses on existing properties as well as new buildings and special logistics halls (e.g. parcel distribution centres, delivery bases, fulfilment centres, cross docks, light industrial or industrial properties, refrigerated logistics, etc.).
About Catella Investment Management GmbH (CIM)
Catella Investment Management GmbH is an independent and entrepreneurial investment advisor for funds and mandates with real estate assets under management of approximately EUR 10 billion. The subsidiary of Stockholm-based Catella AB advises more than 25 real estate public and special real estate funds as well as several mandates in 15 European countries with a focus on residential, mixed-use, parking and logistics uses. CIM offers (advisory) services in the areas of research, fund management, acquisition, sale and asset management. The company has offices in Berlin, Munich and Vienna.
For further information, please contact:
Catella Investment Management GmbH
Stine Zöchling
Head of Marketing & PR
Mobile: +49 (0)151 544 51 005
E-mail: stine.zoechling@catella.de
Further information can also be found on the website under www.catella.com/immobilienfonds
