Warburg-HIH Invest Real Estate (Warburg-HIH Invest) has acquired a logistics property in Henstedt-Ulzburg near Hamburg for the open special AIF “Warburg-HIH Logistik Deutschland Invest”. The seller is the municipality of Henstedt-Ulzburg. Verdion’s project development is carried out in close cooperation with Warburg-HIH Invest. The 33,350 square meter property has a total rental area of around 19,250 square meters and 153 parking spaces. Of this, around 15,350 square meters are warehouse and logistics rental space and around 3,250 square meters are office space. With Boeing Distribution Services, Warburg-HIH Invest has won a long-term tenant who will have its European distribution center there for the maintenance and repair business with around 190 employees. The completion of the project development is announced in the first quarter of 2022. Gold certification from the German Sustainable Building Council (DGNB) is sought for project development. The transaction took place as an asset deal. The parties have agreed not to disclose the purchase price.
The “Warburg-HIH Logistik Deutschland Invest” fund invests in high-quality, third-party-usable new logistics halls in Germany. The target fund volume of the fully invested “Warburg-HIH Deutschland Logistik Invest” should be 500 million euros. The equity of 275 million euros has already been collected in full from investors.
Lars Bothe, Senior Transaction Manager Germany at Warburg-HIH Invest, comments: “With the purchase of the property, we achieve an even broader geographical and tenant diversification of the portfolio. In addition, we are further expanding the core focus of the fund with the long-term rented property. ”
Andreas Strey, Co-Head of Fund Management and Head of Logistics at Warburg-HIH Invest, adds: “With the long lease term of well over ten years, the purchase generates a long-term, secure cash flow for the fund. Due to the very high demand for logistics properties, we are very pleased that we were able to win this attractive investment for the fund through the purchase in the early phase of project development. ”
Long-term tenant Boeing Distribution Services is one of the world’s leading providers of aviation fasteners and consumables, as well as service warehouse management solutions. Around 2,400 people are employed at 50 locations worldwide.
The logistics property is located in the immediate vicinity of the A7 motorway. Hamburg Airport can be reached in 20 minutes by car, Hamburg Central Station in 35 minutes and the port in 40 minutes. Hamburg is one of the top logistics regions in Germany and an important global aviation industry location.
