Urban developer Urban Partners has acquired a 37,000m² logistics development site in Herten, Germany with investment manager for real estate and infrastructure HIH Invest Real Estate (HIH Invest).
HIH Invest and Urban Partners have acquired the development sit as joint venture partners.
The logistics hub is already nearly 50% pre-let and construction is due to commence in Q2 2025, with delivery scheduled for Q3 2026.
Once complete, the former brownfield site with comprise a total of 36,821m² of rental space, including 33,416m² of logistics facilities alongside 1,153m² of offices and 2,252m² of mezzanine space.
The facility will also provide 170 car parking spaces and five lorry bays. HIH Invest will act as asset manager for the property once operational.
The investment was made by Urban Partners’ real estate investment strategy Nrep via its logistics development and management business Logicenters.
Nrep’s investment is being made via its Nordic Strategies Fund V (NSF V).
Head of Nrep Germany Wolfgang Ködel said: “The prime logistics property market in Germany is characterised by limited supply, even more so when it comes to sustainable and flexible space.
“Our partnership with HIH Invest is complementary to our existing strategies to capitalise on this opportunity and strengthen our German market presence.
“By combining our expertise in developing best in class logistics centres with HIH’s asset management capabilities, we can unlock substantial value through these development projects.”
