Hamburg-based Union Investment Real Estate, acting on behalf of its Immo-Invest: Europa institutional fund, has acquired a logistics project in Bad Hersfeld from Goodman Bad Hersfeld Logistics (Lux). The 102,020 m[sup]2[/sup] development will be completed in September this year. The transaction amount was not disclosed.
Hamburg-based Union Investment Real Estate, acting on behalf of its Immo-Invest: Europa institutional fund, has acquired a logistics project in Bad Hersfeld from Goodman Bad Hersfeld Logistics (Lux). The 102,020 m2 development will be completed in September this year. The transaction amount was not disclosed.
The property is fully leased with a 10-year rental term. Savills acted for Union Investment.
Frank Billand of Union Investment said the deal was in line with the company's strategy of diversifying the portfolio of the fund which now consist mostly of hotel, retail and office assets.
