HIH Invest has acquired a storage and manufacturing warehouse of 6,193m², located at Bordeaux-Strasse 3 in Bremen. The property was sold by KBK Immobilien UG & Co. KG, a management company owned by Emotion Warenhandels GmbH, the trading company which rented the building on a twelve-year lease that includes a renewal option.
The building, constructed in 2011/2012, occupies a plot of nearly 13,000m² and features a roof-mounted photovoltaic system. Out of the total lettable area of 6,193m², warehouse space accounts for 5,853m², and office and social areas for 340m². “Even though the property was built for the requirements of Emotion Warenhandels GmbH, it has considerable potential for alternative use. It comes with flexible access options, including dock levellers and ground level docks, and could be partitioned into three separate sections. An added perk is its location inside the Hansalinie trading estate, which has direct access to the A1 motorway and lies in close proximity to the Bremer Kreuz motorway interchange and near the inner city of Bremen,” said Maximilian Tappert, Head of Transaction Management Logistics at HIH Invest.
“We are funding the acquisition entirely from equity. We have ways to generate attractive returns from the property even without leverage. The acquisition demonstrates once again that we, as an investment manager with a robust equity base, have the capacity to identify exciting opportunities and to act on them even in challenging market situations,” said Andreas Strey, Co-Head of Fund Management and Head of Logistics Fund Management at HIH Invest.
