German fund manager Warburg-HIH Invest Real Estate has acquired a portfolio of four daycare centres in Germany from Audere Equity in an asset deal.
Financial details were not disclosed.
The two-storey properties are being constructed as part of a new development in Bremen. One building is located in the Hemelingen district and houses six groups of children with a gross lettable area of 1,440 m2, and the other is in the Huchting district, with eight groups across a gross lettable area of just under 1,130 m2.
The portfolio also features two fully renovated buildings in North Rhine-Westphalia, an 850 m2 property in Duisburg and a 715 m2 property in Moers. The properties will form part of the Warburg-HH Zukunft Invest open-ended special AIF.
The four daycare centres are rented by their current operators under long-term rental agreements. The three centres in Bremen and Moers are run by Step Kids Education, and the facility in Duisburg is operated by Zaubersterne.
Jens Nagelsmeier, head of transaction management retail at Warburg-HIH Invest, said: 'We have succeeded in expanding our fund’s portfolio with the addition of four properties of outstanding quality.
'The centres are run by experienced and professional companies with highly acclaimed learning concepts. We remain on the lookout for properties to add to our portfolio for our investors.'
All of the daycare centres are located in established residential areas on large plots of land with child-friendly outdoor spaces. Three properties are scheduled for completion before the year is out and the centre in Bremen’s Huchting district is expected to be finished by the second quarter of 2022.
Horst Lieder, CEO of Audere Equity, said: 'Daycare is crucial to maintaining a positive work-life balance. We firmly believe that daycare centres develop efficiently and in a user-oriented manner.
'The needs of both operators and families can be met quickly with high quality solutions. At the same time, we are demonstrating that investment in this ESG-compliant asset class can be profitable and sustainable for investors with high standards.'
Anwaltskanzlei Heuking Kühn Luer Wojtek, Hamburg, was responsible for legal and tax due diligence. CPG Projekt und Baumanagement, Hamburg, conducted technical and ESG due diligence.
