The Munich-based investment specialist for logistics real estate buys its tenth property in an off-market transaction for its open Real Estate Special AIF “LIP Real Estate Investment Fund - Logistics Germany”. The property has been leased long-term to Finnish listed company Uponor.
For Uponor, a worldwide leading supplier of plastic pipe systems for heating, cooling and plumbing technology, the property in Haßfurt has been its most important distribution location since its completion in 2015. Starting operations from this logistics center has enabled Uponor to optimize its logistics processes and thereby significantly reduce its CO2 emissions. The closeness to the production sites in Haßfurt and Zella-Mehlis, as well as the strong growth in markets in southern Germany, Austria and Switzerland, has led to over 1.2 million truck kilometers being saved.
Sustainable quality of construction of the logistics real estate
The object, built on a 5.3-hectare plot of land, has around 16,000 square meters of warehouse space, approx. 900 square meters of office space, almost 10,000 square meters of external storage area as well as 21 parking spaces for cars and trucks. With a sophisticated building design, which uses renewable energy in conjunction with panel heating, a saving of over 60% can be made on heating costs. The heating needs are covered by four air to water heat pumps and a gas condensing boiler to cover peak- time requirements. In the office space of the logistics center, Uponor have installed their own technology, a panel specifically dedicated to control heating and cooling. To make use of the cooling function in the summer and to ensure a comfortable, draft-free atmosphere, reversible heat pumps have been installed.
Acquisition completed in an off-market transaction
The seller of the object is a fund managed by Crescendo Real Estate Partners, a company with subsidiaries in London, New York and Luxembourg. Throughout the acquisition process, LIP Invest received legal advice from Heussen Rechtsanwaltsgesellschaft, tax advice from Goodwin Procter LLP and technical advice from REC Partners. The seller received legal advice from CBRE and May & Partner throughout the transaction.
Modern logistics center in the logistics region Schweinfurt/Würzburg
The object is located in Haßfurt and is therefore part of the logistics region Würzburg/ Schweinfurt. Bodo Hollung, Partner and Managing Director of LIP Invest says “In the past, the logistics region Würzburg/ Schweinfurt has not been in the focus of the larger project developers. Due to the convenient location at the key junctions to Munich/Hamburg, the A3 to Frankfurt, the A71 to Leipzig/Berlin and the A70 to the Czech Republic, the region is becoming increasingly important.
As a result, the Schaeffler Group relocated its European distribution center to the region, Schaeflein Logistik built a new development in the same location and will also expand its existing logistics center in Schweinfurt. Furthermore, the US developer Scanell Properties has recently bought a 150,000 square meter site here for the development of logistics real estate. This illustrates the growing importance of the region and we are pleased to be able to further diversify our portfolio with this acquisition.”