Warburg HIH's German logistics fund fully invested at €470m

Warburg-HIH Invest Real Estate has completed the investment strategy for its Warburg-HIH Deutschland Logistik Invest fund after acquiring three logistics properties from Goodman.

Financial details were not disclosed.

With this deal closed, the fund’s total equity of €280 mln, €470 mln with debt, is now invested. The three latest additions bring the number of properties held by the vehicle up to 13, the average remaining lease term being around nine years.

Carsten Demmler, Managing Director at Warburg-HIH Invest, said: 'The fund met with very lively interest among our investors. It only took us about one year to complete the fundraising process, and the equity is fully invested now. We offer our investors a diversified portfolio with stable earnings.

'Since demand on the investor side remains high, and since we have other interesting assets in our pipeline, we will launch another logistics real estate fund with a similar structure before long. We are planning to invest €150 mln in logistics real estate on behalf of our fund during the second half of 2021.'

The latest deals are DGNB-certified as green buildings and occupied on long-term leases. The logistics asset in Rheinberg near Duisburg has a gross lettable area of around 12,700 m2 and was completed in 2015. Its sole tenant is HAVI Logistics, a logistics service provider in the food industry.

The property in Bergkamen, located near Dortmund on the eastern edge of the Ruhr, was also constructed in 2015. It extends over around 40,300 m2 and is let to Deutsche Post.

The third new asset is located in Malsch near Karlsruhe and has a gross lettable area of around 46,000 m2. Sole tenant of the property, which was raised in 2011, is Seifert Logistics.

The buyer-side legal due diligence reviews for the acquisitions were conducted by Norton Rose Fulbright in Frankfurt am Main, the commercial due diligence by CBRE. The tax due diligence reviews for the properties were undertaken by Boege Rohde Luebbehesen and KPMG. Responsible for the technical and ESG due diligence reviews was REC Partners.


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