Halverton acquires Holzhauser Markt in Berlin for just over €45 million (DE)

Halverton Real Estate Investment Management has completed the largest transaction to date for the HBI Fund in Germany. The Holzhauser Markt in Berlin-Reineckendorf accommodates almost 50 tenants on a floor space of over 56,000 m², including numerous retailers such as ALDI, Rewe, KIK, Fressnapf and Dänisches Bettenlager. The property has construction ground reserves of approximately 15,000 m² and its own siding track. It is 94% let and provides an initial net yearly yield of circa 7.2%.

Holzhauser Markt, Berlin.

The Holzhauser Markt site comprises various 20th century styles of industrial architecture. The listed buildings and those worthy of preservation have been carefully renovated and modern architectural elements added to the other commercial buildings.

The vendor is a property company belonging to the DWI Group in Hamburg, Germany. DWI was advised by Savills Industrial/Logistics Investments in Berlin, Germany, Halverton by NAI apollo.

For Halverton, the purchase of Holzhauser Markt marks the third business development for the HBI Fund in Berlin. Halverton have already purchased the fully let Logistikzentrum Marienfelde (Marienfelde Logistics Center) in Porschestraße in March 2006 and recently Gewerbepark Saatwinkler Damm (Saatwinkler Damm Industrial Park). All three properties are managed by Sebastian Blecke from Halverton's Berlin Asset Management Team.

Source: Halverton

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