Hines plans its first own logistics projects in Hamm
Hines has bought two lots totaling 115,400 sqm in commercial park K’Park in Hamm-Uentrop (NRW) in an off-market deal. The investment firm is planning to build two halls with a total of nearly 70,000 sqm hall and office space with flexible floor plans and units starting at 9,000 sqm. This is Hines’ first logistics project in Germany, more are to follow. According to its new logistics strategy, Hines is initially developing the properties on its own, to possibly add them to their own investment vehicle later. Managing Director Christian Meister quotes an investment volume of €50mn to €60mn. “We are already talking to users, but will begin construction before the end of this year, at least partially on speculation,” he told TD. Hamburg Commercial Bank is providing financing, and Hines is advised by DeGold and GSK.
Subscribers to our premium service have access to this article in full as well as to an additional 510,000+ news items: all filterable by topic, company, asset class, city or keyword. In TD Premium you can search for investment deals, leases, current project developments and company news with pinpoint accuracy.
TD Premium is Germany’s leading property information tool that interconnects news, transactions, project data, market and company information in a unique and flexible system.