Pictet Alternative Advisors, Scantum DW Acquire Kerpen Warehouse Site for 14,000 SM Industrial Real Estate Development
Pictet Alternate Advisors and Scantum DW have acquired a warehouse property on a 22,000 square metre plot in Kerpen, Germany from LyondellBasell, the firms announced May 27. The joint venture plans to demolish the existing structure and develop a new logistics asset of approximately 14,000 square metres, with completion targeted for early 2028.
The acquisition at Hüttenstraße 122–124 represents the second property in the partners' emerging German logistics platform, which will total approximately 35,000 square metres across two assets upon completion. No financial terms were disclosed.
Industrial Real Estate Platform Expands in Rhine-Ruhr Region
The Kerpen site is located within the Rhine-Ruhr metropolitan region, offering access to motorways A4, A1, and A61, as well as proximity to Cologne, Cologne Bonn Airport, and the ports of Rotterdam and Antwerp.
LyondellBasell will continue to occupy the existing warehouse through the end of the year. Following the tenant's departure, the partners plan to demolish the building and commence construction of the new logistics facility.
"With the acquisition in Kerpen, we are securing another asset in a highly attractive location in one of Germany's most important logistics regions," said Simon Geldmann of Pictet Alternative Advisors. "The project is consistent with our strategy of creating modern, sustainable, and highly flexible logistics spaces that meet the requirements of urban supply chains."
Alexander Polsak of Scantum DW added: "The combination of an excellent location, development potential, and our clear commitment to sustainability makes this acquisition particularly attractive. With our new platform, we are also creating a scalable structure to specifically invest in future-proof logistics properties."
Warehouse Real Estate Development Targets EG40 Energy Standard
The planned new-build will be designed to meet Germany's EG40 energy efficiency standard, which the firms described as one of the highest in the country. The building will incorporate solar panels and heat pump technology, as well as modern WHG-compliant sealing. The development will also feature flexible, small-scale unit configurations intended to serve urban logistics demand.
Second Asset Follows Pre-Let Hochheim am Main Acquisition
The Kerpen deal follows the joint venture's first acquisition in 2025: a logistics property in Hochheim am Main that has already been fully leased to Nextrend, a wholly owned subsidiary of bathroom manufacturer Duravit, two years before its scheduled completion. Together, the two assets will comprise approximately 35,000 square metres of warehouse real estate upon delivery.
Scantum DW, founded in 2022 by Alexander Polsak and Vincent Schneider, specializes in logistics, light industrial, and last-mile properties. DW Real Estate acquired a stake in the firm in 2023, at which point it was renamed Scantum DW. The company currently manages a real estate portfolio of approximately €350 million.
Pictet Alternative Advisors is an independent unit within the Pictet Group that manages investments across hedge funds, private equity, private debt, and real estate assets. As of December 31, 2025, Pictet Alternative Advisors managed approximately USD 5 billion in real estate strategies. The broader Pictet Group reported CHF 757 billion in assets under management or custody as of the same date.
Commercial Real Estate Advisors on the Transaction
The joint venture was advised by GSK on legal matters, Noerr on tax, Colliers on commercial due diligence, and x-Projekt and Wessling on technical matters. The seller, LyondellBasell, was advised by CBRE.
The Kerpen development is scheduled for completion in early 2028.