Warburg-HIH Invest Real Estate has announced the acquisition of a logistics property at the GVZ Grossbeeren freight centre south of Berlin on behalf of its open-ended special AIF, Warburg-HIH Deutschland Logistik Invest.
Developed in 2010 and 2011, the 28,900 m2 logistics facility is fully occupied by tenant Ingram Micro CFS Fulfillment.
The transaction took the form of a share deal. It was agreed not to disclose the selling price.
Warburg-HIH Deutschland Logistik Invest raised a total of €275 mln from institutional investors and is planned to reach a total volume of €500 mln.
Over the past twelve months, the fund built up a portfolio of nine logistics warehouses in a combined value of nearly €250 mln.
Lars Bothe, senior transaction manager Germany at Warburg-HIH Invest, said: ‘The acquisition significantly enhances the fund’s diversification in terms of geography and tenant-industry mix. The interest shown by national and international investors on Berlin’s logistics real estate market remains as strong as ever, and was further boosted by the Covid-19 pandemic. We do not expect to see the action on the strained market to ease in the coming quarters, because demand for core assets like this one persists. Which makes it all the more rewarding to have managed to acquire this logistics property for our fund.’
