Warburg-HIH Invest Real Estate has acquired a logistics property located in Henstedt-Ulzburg on behalf of its “Warburg-HIH Logistik Deutschland Invest” open-ended special AIF. It was sold by the municipality of Henstedt-Ulzburg. Verdion is developing the property in close collaboration with Warburg-HIH Invest. The plot, which extends over 33,350m², provides a gross lettable area of around 19,250m² and 153 car parking spots. The lettable area total breaks down into around 15,350m² of warehouse and logistics space, and around 3,250m² of office space. In Boeing Distribution Services, Warburg-HIH Invest found a long-term tenant who will operate its European distribution centre for the maintenance and repair business here, employing around 190 staff. The development is scheduled for completion by the first quarter of 2022. It is planned to have the building certified under the “Gold” sustainability standard of the DGNB German Sustainable Building Council. The selling price was not disclosed.
Lars Bothe, Senior Transaction Manager Germany at Warburg-HIH Invest, commented: “The acquisition of this asset helps us achieve an even broader portfolio diversification in terms of geography and tenant-mix. At the same time, we are further expanding the ‘Core’ orientation of the fund with this property, which is occupied on a long-term lease.”
Andreas Strey, Co-Head of Fund Management and Head of Logistics at Warburg-HIH Invest, added: “With its long lease term of well over ten years, the acquired asset will generate a secure continuous cash flow for the fund. Given the very strong demand for logistics real estate, we are quite glad we succeeded in securing this attractive investment for the fund by acquiring it in the early stage of development.”
The logistics property is located in the immediate vicinity of the A7 motorway. Hamburg’s airport is 20 minutes away by car, while it takes 35 minutes to get to the central railway station and 40 minutes to the port. Hamburg counts among the top logistics regions in Germany and is a major global aircraft industry hub.
