HIH Invest Real Estate has acquired a light industrial property in the town of Kabelsketal in the German state of Sachsen-Anhalt from Malcolm 22 Immobilien.
The 10,419 m2 lettable property was completed in 2019 and is occupied by AES Airplane Equipment & Services, a maintenance business for aircraft components and air cargo containers.
The 10-year lease agreement will expire in 2033.
The logistics property offers diverse delivery access options and comes with a 24-hour operating permit.
The acquisition was undertaken on behalf of HIH Deutschland+ Core Logistik Invest, an open-ended special AIF targeting modern core logistics real estate with excellent alternative use potential and high ESG standards.
Maximilian Tappert, head of transaction management logistics at HIH Invest, said: ‘Logistics represent the lifeline of a functioning economy and are coping splendidly with the current challenges. But demand continues to exceed the supply in modern facilities by far. In the Leipzig/Halle region, which has evolved into a logistics hotspot in recent years, there is a shortage in light industrial facilities above all.’
Robert Stadie, fund manager at HIH Invest, added: ‘Among the most compelling aspects of the property in Kabelsketal are the quality of location and the building design, which meets the needs not just of occupiers from the aviation sector but also of those in the packaging and mechanical engineering industries.’
The property is located at a logistics centre between the cities of Leipzig and Halle/Saale with direct access to the A9 and A14 motorways and railway networks while also being in the immediate vicinity of Leipzig/Halle Airport.
Baker Tilly handled the legal and tax due diligences, the technical and ESG due diligences were conducted by Arcadis Germany, the commercial due diligence by Logivest, while Colliers International Deutschland took care of the marketing.
