Goodwin advises Clarion on acquisition of Panattoni Logistics Park in Voerde
The transaction, valued at approximately €75 million, involved the purchase from Panattoni, a prominent real estate developer
Global law firm Goodwin has provided legal counsel to Clarion Partners Europe (“Clarion”), a real estate fund manager specialising in logistics and industrial real estate, in its acquisition of the Panattoni Logistics Park in Voerde, Germany.
The Panattoni Logistics Park comprises two Grade-A properties with a combined gross lettable area of 66,930 square meters. This acquisition, made on behalf of one of Clarion Partners Europe's co-mingled funds, marks a significant investment, bringing Clarion's total deployment in Continental Europe's logistics market to around €500 million since June of the previous year.
The development project involved the regeneration of a 112,000 square meter brownfield site, making it one of the largest projects of its kind ever undertaken in the Lower Rhine region. Notably, the park's environmental sustainability is being enhanced through the installation of a photovoltaic (PV) system with a peak capacity of 6.86 megawattpeak, scheduled for completion by the end of 2024. With a forecasted annual power generation of over 5.8 million kilowatt hours, the system is expected to provide electricity for approximately 2,300 two-person households.
Strategically situated in the Rhine Ruhr region, which is among Europe's most densely populated metropolitan areas, Voerde enjoys proximity to key transportation hubs. With approximately 19.3 million people residing within a 90-minute drive time, the park benefits from its location near Europe's largest inland port in Duisburg and major arterial routes such as the A3, connecting Duisburg with Dusseldorf, Cologne, and Frankfurt, accessible within a 10-minute drive.
The legal advisory team from Goodwin was led by Frankfurt partner Peter Junghänel, supported by a team of legal experts including Felix Weber (Real Estate M&A, Frankfurt), Jochen Schnepper, Timo Baumann, and Anna Zoth (Real Estate Finance, Frankfurt), Alexandrine Armstrong-Cerfontaine, Elie-Raphael Soudry, and Olha Polishchuk (Private Equity, Luxembourg), Felix Krüger (Tax, Frankfurt), and Bastien Voisin, Julien Schraub, and Yann Ricard (Tax, Luxembourg).
This acquisition underscores Clarion's commitment to strategic investments in Europe's thriving logistics market, capitalising on opportunities for sustainable growth and value creation.