Le mie ricette per la real estate communityWarburg-HIH
Invest Real Estate (Warburg-HIH Invest) just acquired a portfolio of
four new-build logistics warehouses from COMPLEMUS Real Estate that are
earmarked for the “Warburg-HIH
Deutschland Logistik Invest” open-ended special AIF. Three
of the assets are located in the state of North Rhine-Westphalia, while
one is located in Rhineland-Palatinate. The portfolio collectively
covers a gross lettable area of 33,300 square metres, thereof 25,600
square metres let to Amazon on a long-term lease of 15 years. The
new-build logistics assets represent essential core portfolio components
of this logistics real estate fund, which is still
going through its investment period. The fund is planned to have a
total volume of 500 million euros, the equity capital target being 300
million euros. Out of this amount, c. 150 million euros are still
available for subscription by prospective investors.
The annual dividend yield is expected to range between 4.5 and 5.5
percent. Institutional players may invest in the fund by acquiring
equity interests of 2.5 million euros or more.
“This investment in the promising last-mile segment secures assets of
new-build quality and alternative use potential for our fund that are
occupied by tenants of good covenant strength, such as Amazon,” said
Andreas Strey, Senior Fund Manager at Warburg-HIH
Invest.
“Demand for logistics facilities in Germany is permanently strong. The
acquisition of this portfolio lets our investors buy into the
dynamically growing market for courier, express and parcel services, the
so-called CEP market. This industry has been virtually
unaffected by the current economic dip and offers secure long-term cash
flow returns to our investor,” said Carsten Demmler, Head of Capital
Management at Warburg-HIH Invest. “We are currently in talks with
logistics developers regarding further acquisitions.
This way, we are quickly filling up our property pipeline, which will
enable us to meet the demand among our investors via near-term
drawdowns,” said Demmler.
Matthias Dötsch and Andreas Preusser, Managing Director of COMPLEMUS
Real Estate in Aachen, struck a similar note by saying: “We would like
to thank Warburg-HIH Real Estate for the trust-based and professional
collaboration during this transaction. We serve
the demand-side market for logistics real estate with alternative use
potential in attractive locations in German conurbations. We succeeded
in meeting the sophisticated requirements of our client Amazon,
including in regard to location requests and implementation
speed.”
The single-tenant properties, some of whom are still under construction,
offer a total lettable storage and logistics space of more than 33,300
square metres and about 1,200 parking spots. One distribution centre of
7,800 square metres of lettable area, let
long-term to Amazon in its entirety, is under construction in the
administrative district of Cologne. The lease term is 15 years. Another
distribution warehouse, located in the administrative district of
Düsseldorf and completed in 2019, provides more than
7,400 square metres of lettable area and is also fully-occupied on a
long-term lease of 10 years. Assets currently under development include
another distribution centre of 9,500 square metres in the Düsseldorf
administrative district and a logistics property
of 8,360 square metres in Rhineland-Palatinate. These properties, too,
are fully let to Amazon as single-tenant properties on long-term leases
of 15 years. The last of the distribution centres is scheduled to be
completed by the first quarter of 2021. Worth
noting moreover is that all of the properties come with a 24/7
operating license and with on-site land reserves for additional
development.
Source : Company