Montea has acquired a vast logistics park in the Port of Hamburg. The total site measures 89,000m² and is leased from the Hamburg Port Authority. It comprises five buildings built in 1993, 2018 and 2019. The total investment amounts to c. €50m. Montea expects future rental growth due to the strategic location and the redevelopment potential.
The property is fully let to five companies. All spaces have modern fittings and LED lighting. One of the units also has a green roof. The newest buildings have black tube heaters which are much more efficient than classic warehouse heaters. Skylights are partly integrated to bring in natural daylight.
The site is located in the established logistics area of Hamburg-Altenwerder. As a result, there are excellent trimodal connections: The Port of Hamburg is in direct proximity and the Hamburg-Waltershof access road to the A7 highway and the Altenwerder freight transport centre with its rail siding are both just two km away.
"With this investment, we are able to significantly strengthen our presence in Germany and continue our focus on port and airport locations. 53% of our current portfolio is multimodal. Our aim is to continue to grow in Germany - both through acquisitions and project developments," said Patrick Abel, Country Director Germany at Montea.
Montea was advised on the acquisition by Ashurst (Legal), PWC (Financial & Tax), CBRE (Technical) and Nova Ambiente (Environmental). The fund managed by Tristan was advised on the transaction by the global real estate service provider CBRE, Greenberg Traurig (Legal) and PWC (Tax).
Image provided by Montea.
Europe Real Estate — an overview of real estate developments in European countries.
