Warburg-HIH
Invest Real Estate just acquired two distribution warehouses for its
special AIF, “Warburg-HIH Deutschland Logistik Invest.”
The
properties are located in Saarland and in the Rhine-Main region, and
represent the first logistics properties that were acquired for the
open-ended special AIF. Exclusivity has already
been secured for additional assets for the investment fund that are
worth double-digit millions, the transactions being almost
signature-ready. The fund invests in modern distribution and
transshipment centres with alternative use potential, located in
established
sites throughout Germany. To boost the fund’s performance, it is
planned to add some properties with optimisation potential. The
investment fund’s equity target is c. 250 million euros, of which more
than 100 million euros in investor funds have already been
raised. The total investment volume of the fund is 500 million euros. Institutional players may invest in the fund by acquiring equity interests of 2.5 million euros or more.
The
single-tenant property in Saarland, which will already be completed in
April 2020, provides about 18,100 square metres of warehouse and
lettable logistics space of and over 1,300 square
metres of office space. It is fully occupied on a long-term lease. The
second acquisition involves a distribution warehouse under development
in the Frankfurt am Main metro area. Located close to Fraport, the
largest freight airport in Europe, the logistics
property has about 15,000 square metres of lettable warehouse and
logistics space, around 2,700 square metres of office space and about
100 car parking spots. The multi-tenant property is fully occupied, the
average remaining lease term being around 13 years.
The completion is scheduled for mid-2020. Both transactions represented
asset deals. It was agreed not to disclose the selling prices.
Source : Company