German logistics investment specialist LIP Invest has acquired its sixth property for the LIP logistics property fund for €30 mln, purchasing a new build scheme in Bremen.
Built on a 58,000 m2 plot, the logistics centre comprises a 20,500 m2 warehouse space, split into three cooling zones, some 800 m2 of office space and 2,500 m2 external floor space. It is leased long-term to German supermarket group Rewe.
'The now sixth property is, on the basis of its high quality, its location, its tenant Rewe and the long-term lease, a trophy property in our fund, said Sebastian Betz, head of acquisition & asset management at LIP.
The LIP logistics property fund was launched in mid-2018. It has now acquired some €130 mln of assets, with another €70 mln of properties being assessed for purchase.
External consultants for LIP during the acquisition phase included Eversheds Sutherland (legal), Mazars (tax), and CBRE Preuss Valteg GmbH (technical).
'After such a good start to our fund, we have strongly increasing demand from institutional investors. We anticipate that the fund will be fully placed with €175 mln equity capital by the end of April, which will be completely invested by summer 2019,' concluded Bodo Hollung, partner and managing director of LIP.
