German real estate and mortgage bank Berlin Hyp is providing a €23.2 mln loan to an Osmab joint venture for the construction of a logistics property in Germany.
The JV, consisting of Osmab Holding and Inceptum Vermögensverwaltungsgesellschaft, is developing the Log Plaza Greven project in the town of Greven in the district of Steinfurt in North Rhine-Westphalia.
Due for completion in Q4 2023 and with handover to customers scheduled for January 2024, the property will have a total leasable area of around 28,000 m2.
It is already around 85% pre-let with the seed manufacturer Farmsaat (11,700 m2) and a logistics service provider.
The sustainable logistics property will feature, among other things, energy-efficient lighting and air conditioning, photovoltaic systems, e-charging stations, above-average building insulation, and extensive greenery, with the option for electric charging stations for trucks.
Log Plaza Greven is located on the AirportPark FMO site at Münster/Osnabrück Airport on a plot of more than 51,000 m2 in the immediate vicinity of the A1 motorway.
