Ivanhoé Cambridge is strengthening its Hub & Flow logistics portfolio and acquiring a logistics property in Hamburg from South Korean asset manager ADF Asset Management. This marks the company’s first transaction for its Hub & Flow platform in Germany, which contributes to the geographic diversification of the portfolio in continental Europe.
The logistics property with a total area of 114,760 square meters is strategically located in the Allermöhe industrial park near the Port of Hamburg, the third largest cargo port in Europe. This is one of the most established logistics locations in Hamburg. The property benefits from this very favorable location with access to an important motorway network that serves more than 7 million consumers.
The ESG performance of the property was improved with several measures. This includes, among other things, the installation of solar cells on the roof, which will enable the development of an energy supply with immediate recording of the energy generated and consumed. Efficient office space, conference rooms and a roof terrace with a high quality of life for the employees are other central components of the utilization concept.
The property is fully leased to the H&M Group.
“With the acquisition of this first logistics property in Hamburg, we are further expanding our presence in Germany, one of the core markets for our growth in Europe,” says Christian Daumann, Vice President, Head of Investments, Germany, at Ivanhoé Cambridge Logistics sector is a key focus of our strategy, which specifically aims to triple the size of our logistics portfolio in Europe by 2025. We will therefore continue to build a resilient and diversified portfolio in Europe.”
The transaction is part of Ivanhoé Cambridge’s continental European logistics strategy. This was initiated in February 2020 with the Hub & Flow portfolio and ended with the purchase of the three project developments in Roye (Hauts-de-France), Mer (southwest of Orléans) and Fos-sur-Mer (Bouches-du-Rhône) in France continued.
The Hub & Flow portfolio complements Ivanhoé Cambridge’s European logistics activities. These include partnering with PLP to develop a world-class logistics portfolio in the UK, and collaborating with URBZ Capital on the investment strategy for last mile logistics in Europe.
Ivanhoé Cambridge was advised on this transaction by Avison Young, Drees & Sommer and Allen & Overy.
