July 2025
Patron Capital, the pan-European institutional investor focused on property-backed investments, and its partner INBRIGHT, the specialist light industrial and logistics investor, developer, and asset manager, have acquired a 13,700 square meter light industrial property for refurbishment in Norderstedt, Germany, for an undisclosed price.
Norderstedt is part of Hamburg’s metropolitan region directly to the north of the city. The urban logistics asset is ideally located for business, a few minutes’ drive from Hamburg Airport and close to motorway links providing easy access to the rest of Germany, Denmark, the Netherlands, Poland and beyond.
Patron Capital and INBRIGHT will invest to transform the property to modern ESG-led standards. It is the fourth asset the partners have purchased in Germany in the last 18-months as part of their joint investment programme to build a portfolio of sustainability focused light industrial and logistics assets in key locations in Germany and Portugal.
The Norderstedt property has been sold by a Hamburg based developer. It was previously a logistics subsidiary for shoe retailer Goertz until the end of 2024. A comprehensive refurbishment to significantly enhance the asset’s ESG credentials is planned, including installing improved insulation, energy-efficient lighting and environmentally friendly heating technology, as well as modernizing the building’s storage areas and the renovation of its roof. Flexible spaces to allow for different occupier uses and business concepts will also be incorporated.
The joint venture between Patron Capital and INBRIGHT is aiming to build a diversified portfolio of sustainable light industrial and logistics properties with a value of EUR 250 million in economically strong locations in Germany. The JV is also operating in Portugal, building investments in light industrial and logistics properties valued at EUR 100 million. This acquisition in Norderstedt brings the JV’s number of purchases in Germany and Portugal to five – in Germany properties in Cologne-Marsdorf, Mainz and Hamburg-Porgesring have been acquired and more are in the pipeline.
Christoph Ignaczak, Senior Partner and Investment Director at Patron Capital, said:
“Germany is a key market in Europe’s light industrial sector. With its location in the Hamburg metropolitan region, Norderstedt is ideally placed to meet increasing demand for flexible light industrial and last-mile logistics space. Through strategic investments of this kind, together with INBRIGHT we are actively responding to market opportunities by delivering the Grade-A energy efficient space modern occupiers want. We will continue to build the JV’s portfolio in a targeted manner. With over EUR 200 million in investment capital, we are actively seeking additional properties in Germany’s light industrial sector with similar potential.”
Sebastian Pijnenburg, Managing Director of INBRIGHT Development GmbH, said:
“The combination of an excellent location, development potential and the opportunity to implement sustainable credentials made this property in Norderstedt an ideal candidate for our portfolio strategy. We look forward to transforming this asset to its full potential together with Patron Capital.”
The transaction was brokered by Grossman + Berger. Legal counsel was provided by GSK Stockmann.
-ends-
Media Enquiries to:
For Patron Capital:
Henry Columbine/James Carnegie/Laurence Hill
t: +44 (0)7827 486224
SEC Newgate
e: patron@secnewgate.co.uk
For INBRIGHT:
Yvonne Hoberg
t: +49 151 54 750 169
GLOWING MIND | Communications & Transformation
e: yvonne.hoberg@glowing-mind.com
Notes to Editors
About Patron Capital Partners
Patron represents approximately €5.3 billion of capital raised across several funds and related co-investments, investing in property, corporate operating entities whose value is primarily supported by property assets and distressed debt and credit related businesses.
Since it was established in 1999, Patron has undertaken more than 200 transactions across 114 investments and programs involving over 9 million square metres in 17 countries, with many of these investments realised.
Investors represent a variety of sovereign wealth funds, prominent universities, major institutions and private foundations located throughout North America, Europe, Asia and the Middle East. The main investment adviser to the funds is Patron Capital Advisers LLP, which is based in London, and Patron has other offices across Europe including Barcelona and Luxembourg; the group is comprised of 63 people, including a 40-person investment team.
Further information about Patron Capital is available at www.patroncapital.com
About INBRIGHT
INBRIGHT develops light industrial and logistics properties in economically strong locations with excellent transport connections. Since its founding in 2020, the company has delivered projects with a total investment volume of over €500 million and approximately 230,000 square meters of rental space in Germany. With the establishment of INBRIGHT Portugal, the company has expanded into the Portuguese market. Today, INBRIGHT employs 25 team members, all dedicated to implementing sustainable and innovative real estate solutions.
Further information about INBRIGHT is available at www.inbright.de
