LIP Invest, the Munich based investment specialist for logistics properties has now acquired its sixth property for the LIP Logistics Property Fund launched mid-2018, purchasing a new build in the TOP logistics region Bremen.
Julia Olivia Oechsler
The investment volume is worth around 30 million Euros. Built on a 58,000 square metre plot, the logistics centre comprises of approximately 20,500 square metre warehouse space, split into three cooling zones of two, six and 18 degrees respectively, 800 square metre office space and 2,500 external floor space. The object has been leased long-term by REWE. The temperature-controlled warehouse is to be used as a fresh produce centre to store fruit and vegetables. The new location serves to free up capacity in the existing logistics centres in Lehrte and Stelle, as well as increasing the quality of service to local REWE stores through shortened transport routes.
The state-of-the-art property is free-standing and accessible from two sides, there are 40 loading bays with loading bridges as well as numerous ground level bays, it has a ceiling height of 11 metres and LED lighting.
External consultants for LIP during the acquisition phase included Eversheds Sutherland (legal), Mazars (tax), and CBRE Preuss Valteg GmbH (technical).
Located directly on the A1 Hamburg – Bremen – Ruhrgebiet transport route
The object is situated in Sottrum’s A1 Industrial Park, 20km east of the Bremen junction off the motorway. This is an ideal location for both the regional distribution of goods as it lies directly on the Hansa Line of the Hamburg – Bremen – Ruhrgebiet transport route, as well as national and international delivery. With its proximity to the Bremen ports which handle around 5,5 million TEUs (20-foot standard containers), this gateway location offers ideal conditions for bundling and distribution activities in a national and international context.
“The now sixth property is, on the basis of its high quality, its location, its tenant REWE and the long-term lease, a trophy property in our fund,” Sebastian Betz, Head of Acquisition & Asset Management at LIP, is pleased to state about the latest acquisition.
LIP Logistics Property Fund continues to grow
The open Property Special AIF “LIP Real Estate Investment Fund – LOGISTICS GERMANY” has, since its launch mid-2018, acquired 6 new logistics properties with an investment volume of around 130 million Euros and is administered by INTREAL. Further properties with a value of approximately 70 million Euros are currently being assessed for purchase.
“After such a good start to our fund, we have strongly increasing demand from institutional investors. We anticipate that the fund will be fully placed with 175 million Euros equity capital by the end of April, which will be completely invested by Summer 2019” says Bodo Hollung, Partner and Managing Director of LIP.