HIH Invest Real Estate (HIH Invest) acquired a new daycare centre located in Bremen from BSB Baubetreuung und Bauträger GmbH. Pre-let to the Drachenkinder non-profit sponsor on a 25-year lease plus a five-year renewal option, the premises will house a German-Chinese day nursery.
The building, which will feature ground, first, and attic floors, will be raised in solid construction on a plot of about 1,500m2. Its completion is scheduled for the third quarter of 2024. Nearly 1,200m2 of the net internal area provides enough space to accommodate six groups of children, thereof three nursery groups of ten spots each and three daycare groups of 20 spots each. In the outdoor area of about 1,000m2, play areas will be installed for the children while another play area of 140m2 will be created on the roof terrace. The acquisition of the property development will be entirely equity financed. With the other property developments that have been secured by sale-and-purchase agreements included, the daycare centre in Bremen will be the seventeenth asset to be added to the portfolio of the HIH Zukunft Invest fund. Its transfer of ownership will bring the fund’s real estate assets up to a total of c. €86m.
The energetic master plan of the new building is based on the requirements of the KfW Efficiency House 40 standard. Planned measures toward this end include a ventilation system with 80% heat recovery and a roof-mounted photovoltaic system that includes dedicated electricity storage.
“There is massive pent-up demand for day-care spots for toddlers below the age of three and for children between three and six years of age in Bremen. The caregiving needs are particularly urgent in the Mittelshuchting district where the property is located. The residential quarters of up to 160 apartments that are planned in the immediate vicinity will further increase demand,” commented Jens Nagelsmeier, Head of Transaction Management Retail & Healthcare at HIH Invest.
Huchting, a residential district with a large number of green areas, is located around six km away from downtown Bremen and has convenient access to inbound and outbound transportation. Public transport access will include the S1 and S8 rapid transit lines, to be developed by 2024.
The legal and tax due diligences for this transaction were conducted by the law firm of Heuking Kühn Luer Wojtek in Hamburg. Consulting Partners Hamburg was responsible for the technical pre-acquisition audit.
