HIH Invest Real Estate has acquired a new-build property in the Netherlands from Trajanus Vastgoed for its second logistics real estate fund, Deutschland+ Core Logistik Invest.
Financial details were not disclosed.
The property has a total lettable area of around 2,500 m2, of which 2,000 m2 is logistics space and about 500 m2 office space, complemented by 36 car parking spots.
The property, located at Liebrugweg 3 in 1165AD Halfweg, is positioned between the metro areas of Haarlem and Amsterdam while also close to Amsterdam’s Schiphol Airport. It is part of the modern and sustainable Polanenpark business park and is certified BREEAM Excellent.
The roof-mounted photovoltaic system is used by the tenant WM Automaterialien, the Dutch subsidiary of WM SE, a German brand-independent wholesaler of automotive spare parts. The remaining lease term is about 14 years.
The transaction, an asset deal, represents the second acquisition on the behalf of the fund.
Jeff Dijkstra, real estate manager at HIH Invest Benelux, said: 'Including sustainable properties in major European logistics destinations as strategic add-on is one of the distinguishing features of our new fund.
'By completing this transaction in the Netherlands, we managed to combine the acquisition of an ESG-compliant property with geographic diversification.'
The Deutschland+ Core Logistik Invest open-ended logistics special alternative investment fund aims for a target volume of €500 mln or more. As with the precursor fund, its main allocation is Germany, home to the largest logistics market in Europe.
About 30% of the fund capital is to be invested in neighbouring countries (Netherlands, France, Austria). The fund is seeking an Article-8 fund certification.
Felix Meyen, managing director at HIH Invest, said: 'The purchase property is defined by a peri-urban location with very convenient access via the A200 and A9 motorways, which ensures you reach the city of Haarlem within ten minutes and Amsterdam within 25 minutes.
'In addition, the sustainability requirements of the Polanenpark business park meet the equally strict specifications of our fund to acquire sustainable assets with alternative use potential that will retain their market significance in future.'
HIH Invest was legally advised by DLA Piper from Amsterdam and advised on tax aspects by Meijburg & Co (KPMG) from Amstelveen.
The technical and ESG due diligences, which measured a particularly high resource-efficiency, were conducted by Cushman & Wakefield based in Utrecht.