HIH Invest Real Estate has acquired a day nursery in Bremen for its Zukunft Invest open-ended special alternative investment fund.
The property is located at Zum Krempel 2 in the Blumenthal district, and represents a two-storey listed building from 1898 that previously served as administrative building of Bremer Wollkämmerei, a wool carding works that went out of business in 2009.
In 2021, the property underwent shell-and-core refurbishment. The total lettable area of 1,290 m2 breaks down into 965 square metres for the day nursery with its 70 childcare places, and 325 square metres of office and training rooms.
The building is let in its entirety to the HanseaSana day nursery operator on a term of almost 24 years.
Jens Nagelsmeier, head of transaction management retail & healthcare at HIH Invest, said: 'The childcare ratio in Bremen is well below the current demand for childcare.
'Due to the massively pent-up demand and the fact that demand planning is controlled by city hall, the parameters are quite auspicious. The lengthy lease term with the day nursery operator secures a very stable cash flow for this investment.'
The legal and tax due diligences were conducted by the law firm of Heuking Kühn Luer Wojtek in Hamburg. The technical due diligence was performed by CPH Projekt- und Baumanagement, a Hamburg-based development and consultancy firm.
