Global real estate investor has acquired a 38,100sqm logistics property for its core open-ended European fund.
The manager has acquired the building complex in Raunheim from Dietz Group for the Hines European Core Fund (HECF) for an undisclosed amount.
Simone Pozzato, senior MD and fund manager for HECF, said: 鈥淭his is a very high-quality property with strong tenants, strategically located in one of Germany鈥檚 busiest commercial hubs.
鈥淲e continue to see further opportunities in the logistics sector, especially for assets located in critical transport and infrastructure hubs which suffer from chronic undersupply.鈥�
Christian Meister, MD at Hines Germany, said: 鈥淲ith this excellently connected and strategically located property, we are expanding our commitment to the German logistics portfolio for HECF following last year鈥檚 acquisition of the core logistics property ESSENtials in Essen.
鈥淭his acquisition underscores Hines鈥� commitment to the asset class and reflects the currently attractive dynamics in the German logistics investment market. The property meets a demand for modern, energy-efficient logistics facilities in outstanding locations.鈥�
Launched in 2006, HECF鈥檚 diversified portfolio had a 95% occupancy rate at the end of 2024, with a total fund value of approximately 鈧�3.1bn. The portfolio consisted of 34 investments comprising 68 properties located in 16 urban markets across twelve European countries.
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