Hines launches €400m investment strategy for German logistics

International real estate firm Hines has launched a new industrial investment strategy in Germany, unveiling plans to invest around €400 mln in German logistics over the next 18-24 months.

According to the firm, there will also be a focus on development projects in selected locations. Last year Hines sold a portion of its existing pan-European logistics portfolio in Germany and Poland to a Blackstone affiliate for around €460 mln. This included five German centres, priced at €310 mln.

The first deal under the new strategy is a 36,000 m2 logistics complex in Maintal near Frankfurt for the Hines global income trust. Fully leased to the logistics service providers Deutsche Post (DHL) and Schenker, plus timber wholesaler Becher, the building was sold to Hines by private investors Werner Gutperle and Jürgen B. Harder.

Commented Christian Meister, managing director at Hines: 'With this acquisition we are consequently following our new investment strategy and demonstrating our growth ambitions in this asset class after the purchases of several core properties in recent years.

'Our focus is on core-plus and value-add properties in good to excellent locations. Moreover, along with investments in the logistics sector, we will also be active as a project developer.'

In order to further its development ambitions, Alexander Möll, senior managing director at Hines, said that the firm would purchase land plots as well as existing buildings. 'The developed properties are intended both for our own portfolio and for market sale,' he added.

Hines was advised in the acquisition by Pöllath & Partners. The transaction process was supported by JLL.


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