Halverton Managed Funds invest in Hamburg region (DE/UK)

Halverton Real Estate Investment Management (Halverton REIM) has acquired two properties for the EB8 Fund and an industrial estate for the HBI Fund.

Halverton acquired the Reinbek / Borgistrasse property on the Reinbek-Glinde industrial estate for the HBI Fund. The industrial estate comprises six buildings with an area of about 8,400 m², which were built between 1968 and 1991. The occupancy rate amounts to 88%. The 18 tenants use the premises for storage, production, light assembly work and administration. Service providers on the industrial estate include third party logistic companies, data processing, accounting and dry cleaning firms. The net initial yield amounts to 10.6%. Oscar Gossler KG is the vendor. Reinbek is situated 20 kilometres to the east of Hamburg. Halverton has already acquired two commercial properties for the HBI Fund in the same location.

The Kaltenkirchen / Feldstrasse property is located 40 kilometres to the north of Hamburg and is fully let. The modern building in the commercial district has 7,200 m² arranged over three separate buildings with mainly warehouse and logistic facilities. The property was built in two phases: 1990 and 1995 and has four tenants. The property Norderstedt /An'n Slagboom is located in the Nettelkrögen commercial district, 12 kilometres to the north of Hamburg. The property comprises seven separate buildings with 11,600 m² of which the majority is storage with some offices and show rooms. Currently 19 tenants are based on the estate. The properties were built between the early 1950s and 1991.

Angermann acted as agent for the two EB8 Fund properties. The main tenant for both properties is a logistic company. The properties have long-term tenant contracts and thereby enable continued stable cash flows for the EB8 fund. The initial net yield for each of the properties amounts to approximately 8%.

The exact transaction price for the properties has not been disclosed. The figure lies in total in the two-digit of millions.

All three properties benefit from close proximity to Hamburg with airport and seaport and the access to motorway.

Source: Halverton

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