Pictet Seizes Strategic Rhine-Main Logistics Property

Pictet Alternative Advisors SA, a Private Equity firm, has announced the acquisition of a logistics property located in Hochheim am Main, situated strategically within the Rhine-Main area. The transaction, involving the purchase from Branicks, signals Pictet's commitment to enhancing its portfolio in strategic European logistics hubs, particularly concerning urban distribution. The property, which is fully leased, is planned to undergo significant upgrades with Scantum DW involved in operational implementation. The overhaul will include partial demolition and development to meet DGNB Gold 1 standards, thereby embedding sustainability at its core by phasing out fossil fuel reliance for heating. The restructuring will affect about 70% of the asset, originally constructed in the 1970s, while refurbishing parts from the 2000s. Simon Geldmann, a key figure in Pictet's German and Benelux real estate activities, emphasized the potential for sustainable growth and strategic appropriateness of the asset in last-mile logistics. With value-add strategies honed over cautious investment periods, Pictet sees Germany, and specifically the Rhine-Main region, as pivotal for future expansions. This marks Pictet's second German acquisition, following a prior purchase near the Dutch border. Scantum DW is set to develop the property, ensuring modernity and sustainability to appeal to potential tenants seeking flexible spaces.