LBBW is providing a €60 mln five-year loan to finance the redevelopment of Logpark Leipzig, a 165,000 m2 logistics park in the north of Leipzig, Germany.
Situated near Leipzig's city center, the property boasts tenants like Amazon, e-commerce centre Momox, and Neumann & Müller.
The former Quelle shipping center, built in 1992, will undergo structural and energy efficiency improvements to meet contemporary standards.
A joint venture of HIH Invest Real Estate and Partners Group purchased Logpark Leipzig in December 2023 from Demire Deutsche Mittelstand Real Estate for €121 mln.
Demire originally acquired the property in 2015, developing it into a diversified logistics park over the years.
In a development project starting in 2025, four buildings will be knocked down to make room for two business complexes offering a combined total of 30,000 m2 of commercial and logistics space for rent. The individual units will range in size from 950 to 5,000 m2.
Heiko Maaß, head of Real Estate Customers, Domestic Commercial Investments at LBBW, said: ‘In all of our financing, we always ask the question of the energy transformation of the building stock. This is the major task that we as a real estate industry have to overcome. We are therefore very pleased to be able to define and support measures and goals together with our customer.’
Maximilian Tappert, head of Transaction Management Logistics at HIH Invest Real Estate, added: ‘Especially in times with low transaction activity, it is important to recognize potential. To take advantage of opportunities and act countercyclically. Logistics properties close to the city center are in great demand and will continue to be so in the future. We are pleased that LBBW sees it the same way and is standing by our side as a reliable financier.’
