HIH Invest Real Estate has acquired a logistics property in Germany on behalf of an open-ended special fund owned by an unnamed institutional investor.
The fund manager has bought the newly built 24,000sqm property located on Hansestrasse in the town of Sittensen in Lower Saxony for an undisclosed amount.
The asset is leased to Yusen Logistics for 10 years.
Maximilian Tappert, head of logistics transaction management at HIH Invest, said: “With its long lease term, this newly acquired core property generates a secure constant cash flow for the investment fund.
“Moreover, we are well prepared even for the time beyond the end of this lease. The flexible floor space configuration that is ensured by two distinct warehouse sections and a sufficient number of loading access doors creates a high alternative use potential, including for multi-tenant occupancy,”
Christian Kramp, a senior fund manager at HIH Invest, said: “The warehouse impressed us not least by being ESG compliant and by having a high energetic building quality. The property is also set up to accommodate the growing significance of electric mobility.”
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