Hansainvest Real Assets has unveiled plans to invest up to €300 mln in the logistics sector by the end of next year as part of its growth strategy in this market segment.
The acquisitions will be concentrated in the core markets of Germany, Benelux and the UK. Selected properties may also be acquired in France, the Nordics, Spain and Poland.
Against this background, the Hamburg-based asset manager has decided to expand its property team with the hire of Deka Immobilien's former head of logistics investment Philipp Middendorp as new head of logistics acquisitions.
Nicholas Brinckmann, Chairman of the management of Hansainvest Real Assets said: 'As an institutional investor, logistics properties are attractive because they continue to generate significantly higher yields than core office and retail properties. The spread is currently still around 150 basis points.'
'In terms of risk classes, we intend to acquire core and core-plus properties,' said Philipp Middendorp, newly-appointed head of logistics acquisitions at Hansainvest Real Assets. 'We will also pay close attention to the potential alternative uses of the properties. We intend to acquire primarily traditional logistics assets, including warehouse, distribution and transshipment properties. Alongside portfolio properties, we will also focus on acquiring development projects.'
Hansainvest currently has 15 logistics properties in five European countries (Belgium, Germany, Finland, the Netherlands and the UK) with a total value of around €250 mln, or a 5.2% share of its total assets under management.