HIH Invest has acquired property comprising 7,050m² from the Lange Family Office (LP MG GmbH). The property on Hamburgring 30 in the city of Monchengladbach in western Germany represents an ESG compliant newly constructed building that is fully let to an internationally active e-commerce service provider. The lease has a term of five years. Well-suited for alternative use, the modern new-build property is defined by high-end efficient specifications and can be partitioned into six separate warehouse sections. The scheme offers 6,050m² of logistics space and 1,000m² of office space. The plot, which extends over 14,370m², includes 55 car parking spots.
Carsten Demmler, Managing Director of HIH Invest, said: “When we started buying property for our first logistics fund in 2020, we entered the logistics market at the right time. In little over a year, the fund achieved its targeted volume of circa €500m, and is fully invested with 13 assets now.”
“Demand for logistics facilities, which continued to grow even during the pandemic, has driven a stable if modest rental growth in this segment in addition to ensuring a persistently high take-up. Among our investors, demand for logistics real estate for the purpose of diversifying their portfolio allocations remains very strong – which is what motivated us to launch a successor fund,” added Alexander Eggert, Managing Director of HIH Invest.
