Munich-based investor LIP Invest has acquired the fourteenth asset for its first logistics fund from Hamburg-based developer Bauwo.
Financial details were not disclosed.
The property, located on Krusenhauserner Weg in Hodenhagen, Lower Saxony, was acquired for LIP's Logistics Germany fund, launched in 2018.
Fully let on a long-term basis to Bremen-based company Stute Logistics, a wholly owned subsidiary of Kuehne + Nagel, the asset was handed over to the user after completion in May 2020.
The site, directly opposite the BMW distribution centre also built by Bauwo in 2016, covers an area of around 81,000 m2. The centre comprises 30 dock levellers, four ground-level gates, ten truck parking spaces and 104 car parking spaces.
The building, which consists of three separately leasable sections, can also be extended by a further 10,000 m2.
During the acquisition process LIP Invest received legal consultation from Eversheds Sutherland LLP, tax advice from Mazars and technical support from CBRE.
