HIH Invest acquires logistics development in Idstein for Core Logistik Fund

by   CIJ News iDesk III
2024-10-01   08:35
/uploads/posts/b9e18bb6ee5329424f609431c76571cae58ca416/images/672164837.jpg /uploads/posts/b9e18bb6ee5329424f609431c76571cae58ca416/images/672164838.png

HIH Invest Real Estate has secured a logistics development project in Idstein, Hesse, for its institutional fund, HIH Deutschland+ Core Logistik Invest. The property, located on a 15,709-square-metre site at Richard-Klinger-Straße 8, is being developed by a joint venture between MB Park Deutschland GmbH and ISARKIES Wohn- und Gewerbegrund GmbH & Co. KG. Construction commenced in mid-2024, with completion expected by the third quarter of 2025.

The development will offer a total of 9,414 square metres of lettable space, including 8,627 square metres of logistics space, 338 square metres of office and social areas, and 449 square metres of mezzanine space. The long-term tenant is Ernst Schmitz Logistics & Technical Services GmbH, a regional logistics company with nine locations across the Rhine-Main region.

Designed with sustainability in mind, the building will be constructed to meet the DGNB Gold Standard. It will feature a photovoltaic system to provide electricity to the tenant, a heat pump for energy-efficient heating, and electric vehicle charging stations for both cars and bicycles. The property will also include attractive social areas for employees and offer 62 parking spaces, eight of which are equipped with electric charging points.

Maximilian Tappert, Head of Transaction Management Logistics at HIH Invest, emphasized the property’s versatility, stating, “The classic layout of the hall makes the property highly suitable for third-party use. The hall can be divided into two sections, allowing the potential for dual tenancy.”

The site’s location within the industrial area of Idstein, with direct access to the A3 motorway and public transport connections, further strengthens its appeal. “The excellent location in the greater Frankfurt am Main area convinced us of the project’s potential,” added Andreas Strey, Co-Head of Fund Management and Head of Logistics at HIH Invest.

The acquisition in Idstein marks the seventh property purchased for the HIH Deutschland+ Core Logistik Invest fund, which targets modern logistics properties with high ESG standards and strong third-party usage potential. The fund aims to build a portfolio valued at over €500 million, with a focus on German logistics hubs and neighboring countries such as the Netherlands, France, and Austria.

Baker Tilly handled legal and tax due diligence for HIH Invest, while JT Solutions and CBRE provided technical and commercial due diligence, respectively. The seller was advised by GSK Stockmann.

Switzerland
Albania
Asia
Austria
Belgium
Bosnia & Herzegovina
Bulgaria
Central Europe
China
Croatia
Czech Republic
Denmark
Estonia
Finland
France
Germany
Greece
Spain
Hungary
India
Italy
Kosovo
Latvia
Lithuania
Luxembourg
Moldova
Montenegro
Netherland
North Macedonia
Norway
Poland
Portugal
Romania
Russia
Serbia
Slovakia
Slovenia
Sweden
Ukraine
United Kingdom
USA