Henderson Global Investors and Palmira Capital Partners have acquired a logistics center in Hildesheim, Germany, on behalf of the Henderson German Logistics Fund (HGLOF). The acquisition price has not been disclosed. It marks the seventh acquisition for the Fund.
It is a multi-functional distribution property with a lettable area of 44,631 m². Completed in 2013, it is ideally located for its logistics purpose with direct access to the A7 motorway. The property is let to reifencom GmbH for 10 years and currently used as a distribution center for car and motorbikes tires and parts.
HGLOF is a partnership between Henderson’s German Property Business and Palmira Capital Partners, a specialist in logistic real estate. The fund, Henderson’s second ‘Spezialfonds’, has a target return of 8% per annum. It focuses on logistics assets in top locations with a high degree of tenant flexibility, throughout the relevant logistics hubs in Germany. Palmira advises Henderson throughout the investment process.
Thorsten Kiel, Manager of the Fund, said: “The Hanover region is an ideal location for a logistics center intending to supply the north half of Germany, and represents one of the best prime locations in Germany, not least due to the liquidity of the investment market.
“The long-term lease in place guarantees stable and reliable income. In addition, the high-quality and modern build of the property, combined with its ideal location insures its future against alternative uses”.
Henderson and Palmira Capital Partners were advised by Knight Frank. S - GewerbeImmobilienVermittlung Hannover GmbH acted as intermediary on behalf of the seller.