Prologis has bought seven logistics sites from Union Investment, boosting its German capacity by 380,000 sqm. The hubs are in Hamburg, Hannover, Nürnberg and the Rhein-Neckar region, enhancing Prologis’ network in the country.

Most of the units have been leased for mid- to long-terms durations to Prologis’ customers and are managed by local teams. In addition, the company plans to modernise the facilities to bring them up to energy-efficiency standards.

The acquisition brings Prologis network of sites in Germany to 143 with a total area of 3.4 million sqm, which is a 50% increase on the previous five-year period. (mk)

www.prologis.com