GPT Halverton has acquired three properties as a portfolio for the EB8 fund. The real estate is located in Steinfurt near Münster, Henstedt-Ulzburg near Hamburg and Uhingen near Stuttgart and is fully let. The three properties have a total space of approximately 11,700 m². The remaining lease term on the properties amounts to a weighted average of almost six years. The transaction was advised by Angermann.
The property in Steinfurt (Siemensstrasse 41) comprises 3,400 m², is let to Kappa Deutschland and serves as a clothing distribution warehouse. Steinfurt is located approximately 30 km from Münster in Westphalia and to the Dutch border as well as 75 km from Dortmund. The property benefits from its central location between Amsterdam and Berlin as well as Hamburg and North Rhine-Westphalia. The A1, A30 and A31 motorways are within close reach.
The Henstedt-Ulzburg property (Lise-Meitner-Strasse 6-8) has a total area of approximately 4,800 m² and is occupied by LSK Metall. The company is part of the Amari Group and trades with aluminium and other metals. The property is located 35 km north of Hamburg and has access to the motorway network, airport and seaport via the Hanseatic City.
The property with approximately 5,200 m² in Uhingen (Siemensstrasse 24) is occupied by Gunzler Metall, a metal supplier which is also part of the Amari Group. Uhingen is located 40 km east of Stuttgart. The property is consequently situated near an airport and is only 2 km from the A8 and A81 motorway junctions.
EB8 is GPT Halverton's pan-European distribution vehicle and invests in high-yielding logistic and distribution warehouse properties across Europe. The EB8 fund will invest a total of €1 billion in Europe, including Germany, Denmark, the Netherlands and Scandinavia. EB8 is targeted at properties between €2 million and €25 million in good to strong locations let to a limited number of tenants. Initial yields should be 7.5% or higher and the properties may be subject to short leases.