Hines plans to invest in German logistics sector

The internatioal real estate firm, Hines plans to invest in German logistics sector as part of its new investment strategy.

According to the announcement, the company plans to invest capital totaling approximately €400 million in logistics properties in the German market over the next 18-24 months.

As the first property acquisition under the new strategy, Hines has purchased a 36,000-square-meter logistics complex in Maintal near Frankfurt for the Hines Global Income Trust. Situated next to the autobahn A66, the site is very close to one of Germany’s most important markets. The property is fully leased to the logistics service providers Deutsche Post (DHL) and Schenker, as well as the timber wholesaler Becher. The building was sold to Hines by the private investors Werner Gutperle and Jürgen B. Harder.

SEE ALSO : Hines buys Allianz Karlshoehe office portfolio in Stuttgart CBD

“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,” said Christian Meister, Hines managing director.

“Against that backdrop, and after an extensive review of various options, we will also begin making selective investments in the logistics development business in course of 2019. This will include the purchase of land as well as existing buildings. The developed properties are intended both for our own portfolio and for market sale,” said Alexander Möll, Hines senior managing director.