Warburg-HIH Invest Real Estate just acquired a logistics property completed in 2019 on behalf of its “Warburg-HIH Logistik Deutschland Invest” open-ended special AIF from Aurelis Real Estate. Located on the corner of Enno-Heidebroek-Strasse 13+15 and Seidnitzer Weg 11, the property has a gross lettable area of around 15,240 square metres and 189 car parking spots. The floor area breaks down into 11,748 square metres of lettable warehouse and logistics space plus 1,915 square metres of office accommodation and around 1,570 square metres of extra shop and storage space. The transaction took the form of an asset deal. It was agreed not to disclose the selling price.
The multi-tenant property is fully occupied, the average lease term (WAULT) being around 9.1 years, as the lease agreements were signed in the course of 2018. Among the blue-chip tenants counts the Durstexpress GmbH beverage delivery service, established in Berlin in 2017, which occupies around 6,740 square metres. Durstexpress is a subsidiary of the Oetker Group, one of the largest family businesses in Germany. CoolCase GmbH, based in Dresden, rented 6,920 square metres. The company, which was formed in 1967 and is also family-owned, produces enclosure systems.
The logistics property is located inside an established trading estate and logistics site within the city limits of Dresden. The A17 and A4 motorways are mere minutes away. At the same time, the site is conveniently accessible by public transportation as it lies within walking distance of the “Dresden-Reick” rapid-transit station. The inner city is about 15 minutes away by car.
In the time since spring 2020, the investment fund has built up a portfolio of seven high-end, new-build logistics warehouses with alternative use potential which add up to a total volume of nearly 200 million euros. The company already secured exclusivity for, or is reviewing, additional properties with a view to acquiring them. It plans to bring the “Warburg-HIH Deutschland Logistik Invest” fund up to a total volume of 500 million euros, the equity capital target being 275 million euros.
Source : Company