Hines plans its first own logistics projects in Hamm

05/06/2019

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.


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