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HIH Invest Acquires Sustainable Logistics Property Near Amsterdam

HIH Invest Acquires Sustainable Logistics Property Near Amsterdam

  • About 2,500 square metres in total lettable area
  • ESG compliant new-build scheme with photovoltaic system and BREEAM “Excellent” certification
  • Fully tenant-occupied on 14-year lease
  • Second asset for new real estate special AIF

Hamburg, 13 June 2022 – HIH Invest Real Estate (“HIH Invest”) just acquired a new-build property in the Netherlands from Trajanus Vastgoed B.V. that is earmarked for its second logistics real estate fund, “Deutschland+ Core Logistik Invest.” The property has a total lettable area of around 2,500 square metres, thereof about 2,000 square metres of logistics space and about 500 square metres of office space, complemented by 36 car parking spots. The property, located at Liebrugweg 3 in 1165AD Halfweg, occupies a strategically convenient site between the metro areas of Haarlem and Amsterdam while also close to Amsterdam’s Schiphol Airport, the third-largest freight airport in Europe. It is part of the modern “Polanenpark” business park, an environment characterised by particularly high sustainability requirements in building-law terms. Accordingly, the building is certified with the BREEAM “Excellent” green label. The roof-mounted photovoltaic system is used by the tenant WM Automaterialien B.V.; the company is the Dutch subsidiary of WM SE, a German brand-independent wholesaler of automotive spare parts. The lease term (WAULT) equals around 14 years. The transaction took the form of an asset deal. It represents the second acquisition on the behalf of the fund.

Jeff Dijkstra, Real Estate Manager at HIH Invest Benelux, said: “Including sustainable properties in major European logistics destinations as strategic add-on is one of the distinguishing features of our new fund. By completing this transaction in the Netherlands, we managed to combine the acquisition of an ESG-compliant property with geographic diversification.”

The “Deutschland+ Core Logistik Invest” open-ended logistics special AIF aims for a target volume of 500 million euros or more. The projected distribution equals 3.5 to 4.0 percent annually, while the minimum subscription amount is five million euros. The fund’s target group includes institutional investors and financial institutions. As with the precursor fund, its main allocation is Germany, home to the largest logistics market in Europe. About 30 percent of the fund capital is to be invested in neighbouring countries (Netherlands, France, Austria). The fund is seeking an Article-8 fund certification.

Felix Meyen, Managing Director at HIH Invest, said: “The purchase property is defined by a peri-urban location with very convenient access via the A200 and A9 motorways, which ensures you reach the city of Haarlem within ten minutes and Amsterdam within 25 minutes. In addition, the sustainability requirements of the Polanenpark business park meet the equally strict specifications of our fund to acquire sustainable assets with alternative use potential that will retain their market significance in future.”

Patrick Tammes, owner of Trajanas Vastgoed B.V. and his legal advisors Auke Klomp and Renske Burgers from Hekkelman Advocaten N.V. were highly satisfied with the constructive manner on which this transaction was established. Tammes said: “We are confident that in HIH Invest we found a reliable partner, capable of continuing the succesfull collaboration with the current tenant and wish both parties the best of luck.”

HIH Invest was legally advised by DLA Piper from Amsterdam and advised on tax aspects by Meijburg & Co B.V. (KPMG) from Amstelveen. The technical and ESG due diligences, which measured a particularly high resource-efficiency, were conducted by Cushman & Wakefield based in Utrecht.

“Including sustainable properties in major European logistics destinations as strategic add-on is one of the distinguishing features of our new fund. By completing this transaction in the Netherlands, we managed to combine the acquisition of an ESG compliant property with geographic diversification.” Jeff Dijkstra, Real Estate Manager HIH Invest Benelux

“The purchase property is defined by a peri-urban location with very convenient access via the A200 and A9 motorways, which ensures you reach the city of Haarlem within ten minutes and Amsterdam within 25 minutes. In addition, the sustainability requirements of the Polanenpark business mark meet the equally strict specifications of our fund to acquire sustainable assets with alternative use potential that will retain their market significance in future.” Alexander Eggert, Managing Director HIH Invest Real Estate

“We are confident that in HIH Invest we found a reliable partner, capable of continuing the succesfull collaboration with the current tenant/lessee and wish both parties the best of luck.” Patrick Tammes, Owner Trajanas Vastgoed B.V.


HIH Invest Acquires Logistics Property in Mönchengladbach for New Logistics Fund

HIH Invest Acquires Logistics Property in Mönchengladbach for New Logistics Fund

  • About 7,050 square metres in total lettable area
  • New-build asset has 55 car parking spots
  • Fully tenant-occupied on five-year lease
  • Property earmarked for new real estate special AIF

Hamburg, 1st June 2022 – HIH Invest Real Estate (“HIH Invest”) just acquired a property of 7,050 square metres from the Lange Family Office (LP MG GmbH) on behalf of its second logistics real estate fund. The acquisition took the form of an asset deal on behalf of “Deutschland+ Core Logistik Invest,” an open-ended special AIF managed by HIH Invest. The property on Hamburgring 30 in the city of Mönchengladbach in western Germany represents an ESG compliant newly constructed building that is fully let to an internationally active e-commerce service provider. The lease has a term of five years. Well-suited for alternative use, the modern new-build property is defined by high-end efficient specifications and can be partitioned into six separate warehouse sections. The floor area divides into 6,050 square metres of logistics space and 1,000 square metres of office space. The plot, which extends over 14,370 square metres, includes 55 car parking spots.

Carsten Demmler, Managing Director of HIH Invest, elaborated: “When we started buying property for our first logistics fund in 2020, we entered the logistics market at the right time. In little over a year, the fund achieved its targeted volume of c. 500 million euros, and is fully invested with 13 assets now.” The cash-on-cash yield currently equals 4.52 percent p.a., the time-weighted rate of return (BVI method) 9.82 percent annually. Nine of the properties are or will be DGNB Silver or Gold certified, the logistics asset in Oerlenbach being the latest to get its DGNB Gold certification.

“Demand for logistics facilities, which continued to grow even during the pandemic, has driven a stable if modest rental growth in this segment in addition to ensuring a persistently high take-up. Among our investors, demand for logistics real estate for the purpose of diversifying their portfolio allocations remains very strong – which is what motivated us to launch a successor fund,” added Alexander Eggert, Managing Director of HIH Invest.

The second open-ended logistics special AIF, “Deutschland+ Core Logistik Invest,” aims for a target volume of 500 million euros or more. The projected distribution equals 3.5 to 4.0 percent annually, while the minimum subscription amount is five million euros. The fund’s target group includes institutional investors and financial institutions. As with the precursor fund, Germany is the main investment destination, being home to the largest logistics market in Europe. About 30 percent of the fund capital is to be invested in neighbouring countries (Netherlands, France, Austria). The fund will be seeking an Article-8 fund certification.

To ensure transparency in accordance with the EU Sustainable Finance Disclosure Regulation (SFDR), it uses the in-house HIH ESG scoring model. The attributes to be measured include resource efficiency, social performance, user comfort & security, economic performance, and certification/governance.

Mönchengladbach is a major city in the Rhine-Ruhr metro region. The newly acquired property has direct access to the motorway network via the A61, A64 and A52 motorways. Given the proximity to metropolises like Dusseldorf or Cologne and to the Benelux countries, the location attracts a wide spectrum of industries. Among the logistics occupiers, for one, are major players such as Zalando, DHL and Amazon.

The pre-acquisition legal and tax due diligences were undertaken by Baker Tilly Rechtsanwaltsgesellschaft mbH, a law firm based in Frankfurt am Main. The technical and ESG due diligences were conducted by Stane Consulting, also domiciled in Frankfurt am Main. The seller side received legal counsel from Heuking Kühn Lüer Wojtek in Düsseldorf. Anteon in Düsseldorf, a member of German Property Partners (GPP), exclusively handled the transaction process for the seller and acted as advisor and intermediary.

“When we started buying property for our first logistics fund in 2020, we entered the logistics market at the right time. In little over a year, the fund achieved its targeted volume of c. 500 million euros, and is fully invested with 13 assets now.” Carsten Demmler, Managing Director HIH Invest Real Estate

““Demand for logistics facilities, which continued to grow even during the pandemic has driven a stable if modest rental growth in this segment in addition to ensuring a persistently high take-up. Among our investors, demand for logistics real estate for the purpose of diversifying their portfolio allocations, remains very strong – which is what motivated us to launch a successor fund.”” Alexander Eggert, Managing Director HIH Invest Real Estate



Interview with Dr. Christine Lemaitre, Executive Director of the German Sustainable Building Council DGNB: Climate protection does not work without exchange and dialogue

Climate protection does not work without exchange and dialogue

Interview with Dr. Christine Lemaitre, DGNB – Climate Protection is a task for society as a whole, which is also increasingly reflected in the legal framework for the economy in Germany. The real estate industry has a special responsibility in this regard: the building sector contributes around 35 per cent to final energy consumption and around 28 per cent to CO2 emissions. In order to achieve the specified climate protection targets at portfolio level, HIH Invest's asset management is developing strategic measures with the aim of reducing CO2 consumption on a portfolio-wide basis, increasing energy efficiency and conserving resources.

HIH Invest is in close exchange with industry associations and scientific initiatives. The question that concerns us: How can real estate companies make their contribution to climate protection across sectors and beyond national borders? To conclude our interview series, we speak with Dr. Christine Lemaitre (Executive Director of the German Sustainable Building Council DGNB). The DGNB was founded in 2007 on the initiative of architects, engineers, scientists, investors and representatives of the construction industry to develop a certification system for the sustainability of real estate. Today, the non-profit association with more than 1600 member organisations is Europe's largest network for sustainable building.

Dr Lemaitre, is the real estate industry aware of its responsibility for climate protection?

Climate risks, regulation and changing market demand - the increasing pressure has brought movement into the construction and real estate industry, although it often acts somewhat ponderously with regard to new developments. After the initial phase of declarations of intent, there were first signs of fatigue in the industry and the topic of sustainability stagnated. All market participants now perceive very clearly that more transparency and commitment are being demanded. They also recognise that numerous new opportunities arise when sustainability is understood holistically and as part of the strategic further development of building, modernising and maintaining real estate.

How does the DGNB support investors and asset managers in further developing their sustainability strategies?

The DGNB has developed its own certification system to make sustainable construction practically applicable, measurable and thus comparable. This was first applied on the market in 2009, and since then we have developed a revised certification with improved quality and applicability approximately every two years. In addition to the certification of buildings, interiors and neighbourhoods, we are now also concerned with the climate positivity of buildings and entire cities and are trying to establish cycle thinking in the selection and use of building materials. As a central element, we rely on exchange, dialogue and knowledge transfer within the real estate and construction industry, without which climate protection cannot be sucessful in our view.

Why are exchange and dialogue so important? Doesn't it rather depend on the measures?

Bringing people together, reaching out to people to get them interested in sustainable construction - that is our core philosophy. The exchange within the industry is a very crucial point, because without it, no sustainable measures can be taken. There will not be a solution according to the principle of "one fits all", because in the real estate and construction industry we find an ultimate sector coupling. The building sector usually only represents the technical operation. However, it is not only about initiating the energy turnaround with our buildings. We need to make ingredients for construction products more sustainable, we are responsible for a large part of the waste streams and we can also make an important contribution to the mobility transition. Most market participants do not even have this big picture in mind. This is where we come in at the DGNB: We bring the market participants together, impart knowledge and provide orientation with our certification system so that the companies can initiate the transformations internally and work towards the same climate protection goals.

How does this transformation succeed on the objects?

The foundation is the recording of the actual state in the form of honest monitoring, which shows the real energy consumption of a building. Based on this data, structured measures can be derived to optimise energy consumption. Individual measures are of course counterproductive; each building basically needs its own climate protection roadmap, which also classifies the measures in terms of time. In addition to structural measures, comfort requirements must also be included. This is an important point, especially in the office segment, if we think of the clothing factor. I'll give you a simple example: do men have to come to the office in a suit and jacket in high summer and we cool the building down? What is adequate comfort? And how can we involve the users of the building, the tenants, the tenants' employees in the responsibility? Such questions are also essential for a climate protection roadmap and we can only answer these questions together as an industry, in dialogue with each other as well as with the users.

Thank you very much for the interview, Mrs Lemaitre.

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