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Warburg-HIH Invest Acquires Logistics Property Near Schweinfurt and Multi-Storey Car Park in Wuppertal

Warburg-HIH Invest Acquires Logistics Property Near Schweinfurt and Multi-Storey Car Park in Wuppertal

  • Both assets let long-term to an online retailer
  • Seller is COMPLEMUS Real Estate
  • Logistics property earmarked for the “Warburg-HIH Deutschland Logistik Invest” investment fund
  • The asset has a gross lettable area of around 7,300 square metres
  • The multi-storey car park for over 300 delivery vehicles acquired for a closed-end investment limited partnership

Hamburg, 6 May 2021 – Warburg-HIH Invest Real Estate GmbH (“Warburg-HIH Invest”) acquired two properties occupied on long-term leases from Complemus Real Estate. The logistics property located in Oerlenbach near Schweinfurt, which is used as a distribution centre, has a gross lettable area of 7,300 square metres and several hundred parking spots for cars and vans. Its completion is scheduled for summer 2021. In addition, Warburg-HIH Invest bought a car park near Wuppertal on behalf of a closed-end investment limited partnership. With its roughly 10,700 square metres of gross lettable area, the three-storey building provides over 300 van parking spots. It is expected to be completed by the end of 2021.

The logistics property near Schweinfurt is the tenth asset held in the “Warburg-HIH Deutschland Logistik Invest” fund, an open-ended special AIF that invests exclusively in German logistics real estate. So far, the fund acquired logistics assets in a total value of nearly 300 million euros. It is planned to bring the fund volume eventually up to 500 million euros.

“With the last-mile distribution centre near Schweinfurt, we further enhanced the geographical diversification of the fund. We managed to secure the asset as early as April of last year in conjunction with an off-market portfolio acquisition. We are glad about this opportunity to add a new-build logistics asset with great alternative use potential and occupied by a tenant with a long-term horizon to the fund”, said Andreas Strey, Co-Head of Fund Management and Head of Logistics at Warburg-HIH Invest.

The multi-storey car park in Wuppertal is located in immediate proximity to the last-mile distribution centre in Wuppertal that was acquired for the “Warburg-HIH Deutschland Logistik Invest” fund in spring of 2020. The properties in Schweinfurt and Wuppertal both benefit from convenient transport links because they are located close to transport nodes. They are part of the tenant’s last-mile concept.

Lars Bothe, Senior Transaction Manager Germany at Warburg-HIH Invest, elaborated: “A growing number of major e-commerce retailers are setting up their own logistics platforms in order to ensure the swift delivery of their parcels. For the distribution centre and the last-mile delivery business, it is often indispensable to have your own car park if you need to keep a sufficient number of vehicles on hand. This makes multi-storey car parks a diversification option with great potential and significant yield upside for a given property portfolio.”

Matthias Dötsch, Managing Partner of COMPLEMUS Real Estate in Aachen, added: “As an investment developer, we specialise in the development of flexible logistics real estate for prestigious occupiers. It is pleasure to be working with Warburg-HIH Invest once again on occasion of this transaction.”

The legal and tax due diligence (DD) audits for the acquisitions were performed by Norton Rose Fulbright LLP in Frankfurt am Main for the buyer side. The technical audit (DD) of the properties on the buyer side was conducted by Arcadis Germany GmbH in Darmstadt.

“With the last-mile distribution centre near Schweinfurt, we further enhanced the geographical diversification of the fund. We managed to secure the asset as early as April of last year in conjunction with an off-market portfolio acquisition. We are glad about this opportunity to add a new-build logistics asset with great alternative use potential and occupied by a tenant with a long-term horizon to the fund.”

Andreas Strey, Co-Head of Fund Management and Head of Logistics Warburg-HIH Invest

“A growing number of major e-commerce retailers are setting up their own logistics platforms in order to ensure the swift delivery of their parcels. For the distribution centre and the last-mile delivery business, it is often indispensable to have your own car park if you need to keep a sufficient number of vehicles on hand. This makes multi-storey car parks a diversification option with great potential and significant yield upside for a given property portfolio.”

Lars Bothe, Senior Transaction Manager Germany Warburg-HIH Invest

“As an investment developer, we specialise in the development of flexible logistics real estate for prestigious occupiers. It is pleasure to be working with Warburg-HIH Invest once again on occasion of this transaction.”

Matthias Dötsch, Managing Partner COMPLEMUS Real Estate



Warburg-HIH Invest Acquires Kopernikusquartier Property Development in Heidelberg

Warburg-HIH Invest Acquires Kopernikusquartier Property Development in Heidelberg

  • Gross lettable area equals around 6,900 square metres
  • Completion projected for late 2023
  • Seller is the Kreer Group

Hamburg, 4 May 2021 – Warburg-HIH Invest Real Estate (“Warburg-HIH Invest”) just acquired the Kopernikusquartier property development in Heidelberg from the Kreer Group based in Cologne. The lettable area of the new-build office scheme, located on Czernyring, adds up to around 6,900 square metres, which divide into around 5,850 square metres of office space and around 1,020 square metres of retail units. The five-storey building also provides 100 underground parking spots. It is projected to be completed by year-end 2023. The transaction took the form of an asset deal and was closed on behalf of an individual fund. It was agreed not to disclose the selling price.

“We managed to secure this attractive investment opportunity through an off-market deal early on. The current trend toward generously-proportioned interiors with modern fit-out as seen in the case of Kopernikusquartier actually gathered momentum during the COVID-19 pandemic, and accommodation of this quality is very much in demand among tenants,” said Hans-Joachim Lehmann, Managing Director of Warburg-HIH Invest. “In addition to the ‘Big Seven’ cities, we also invest in selected growth cities like Heidelberg. The accommodation available on the office market of this campus town is limited, and the fact will be reflected in the rental tone. We assume that this development will continue,” Lehmann went on to say.

About 60 percent of Heidelberg’s workforce are employed by knowledge-intensive service providers and by industrial high-tech companies. The city has seen a demographic growth by roughly ten percent since 2010. Moreover, the population is very young compared to the national average: Around 39 percent of the residents are below the age of 30.

The subject property is situated in the recently established Bahnstadt office location. Bahnstadt represents one of the biggest urban development projects in Germany. On an area of 116 hectares, housing for around 6,800 people and workplaces for up to 6,000 will be created by 2022. All of the buildings in the new quarter are constructed as climate-friendly passive houses. Overall, approximately two billion euros are being spent on the urban development project. Kopernikusquartier is the second property development that the Kreer Group pursues in Heidelberg.

“Having acquired a property from Warburg-HIH Invest in 2019, we are rather pleased with this latest transaction, during which we swapped roles. Warburg-HIH Invest is a sophisticated office real estate investor, and it is nice to see that our project in Heidelberg’s Bahnstadt district will be in good hands,” said Dr. Florian Kreer, Managing Director of the Kreer Group, as he elaborated on the transaction.

Kopernikusquartier has very convenient access to public transportation and long-haul transport. Heidelberg’s central railway station is only 600 metres away. Driving time to Heidelberg’s historic town centre is seven minutes. Moreover, the Westarkaden neighbourhood retail centre is located in the immediate vicinity.

The legal and tax due diligences for the buyer side were conducted by Ashurst LLP. ES EnviroSustain GmbH was responsible for the technical and environmental due diligence surveys. The deal was brokered by estate agency S-Immobilien Heidelberg GmbH.

“We managed to secure this attractive investment opportunity through an off-market deal early on. The current trend toward generously-proportioned interiors with modern fit-out as seen in the case of Kopernikusquartier actually gathered momentum during the COVID-19 pandemic, and accommodation of this quality is very much in demand among tenants. In addition to the ‘Big Seven’ cities, we also invest in selected growth cities like Heidelberg. The accommodation available on the office market of this campus town is limited, and the fact will be reflected in the rental tone. We assume that this development will continue.”

Hans-Joachim Lehmann, Managing Director Warburg-HIH Invest

“Having acquired a property from Warburg-HIH Invest in 2019, we are rather pleased with this latest transaction, during which we swapped roles. Warburg-HIH Invest is a sophisticated office real estate investor, and it is nice to see that our project in Heidelberg’s Bahnstadt district will be in good hands.”

Dr. Florian Kreer, Managing Director Kreer Group



Warburg-HIH Invest Acquired Largest Single-Tenant Logistics Property in the Netherlands on Behalf of Korean Investors

Warburg-HIH Invest Acquired Largest Single-Tenant Logistics Property in the Netherlands on Behalf of Korean Investors

  • The Property comprises 140,000 square metres of lettable area and 1,200 parking spot
  • The property is let in its entirety to Zalando
  • Development sold by a joint venture between USAA Realco Europe and Somerset Capital Partners

Amsterdam/Hamburg, 29 April 2021 – Warburg-HIH Invest Real Estate (“Warburg-HIH Invest”) acquired a logistic property in Bleiswijk near Rotterdam for Korean investors led by Midas International Asset Management and NH Investment & Securities. The property was sold by a joint venture between the investment manager USAA RealcoEurope, the European subsidiary of USAA Real Estate and Dutch developer Somerset Capital Partners.

The property is let in its entirety to Zalando, Europe’s leading online platform for fashion and lifestyle. The site occupies a plot area of 250,000 square metres and includes around 1,200 parking spots. The completed building will have a gross lettable area of 140,000 square metres, including about 12,000 square metres of office space. This will make it the largest single-tenant logistics property in the Netherlands. As a result of the high sustainability standards that the property meets, the building is expected to receive a BREEAM “Very Good” certification.

“Due its geographic location at the North Sea with the Port of Rotterdam, inland rivers and excellent road and rail system the Netherlands is the gateway to mainland Europe. Due to this position our country has become an important hub for logistic services and therefore the logistics real estate market is well matured. Increasing international trade and e-commerce has driven the occupier demand for logistic real estate heavily and therefore this asset class has high priority with investors. Notwithstanding the competitive environment we were able to acquire a sustainable logistics property on behalf of our Korean partners,” said Reinoud Plantenga, Managing Director of Warburg-HIH Invest Benelux.

Bleiswijk is part of the Randstad region, the economic heart of the Netherlands, and is only 15 km away from Rotterdam, which is home to the largest port in Europe and 50 km from Amsterdam as well as Schiphol -Airport, the third largest passenger and cargo airport in the Eurozone.

“This deal was transacted entirely during the ongoing coronavirus pandemic, including site inspections, negotiations, audits and acquisition. Our Korean investors had the capacity to act even during these special times and show keen interest in the European property market,” said Matthias Brodesser, Head of Transaction Management International at Warburg-HIH Invest.

“We are very pleased to have completed this transaction together with Warburg-HIH as logistics real estate is a favourable and crisis-resilient asset class. This acquisition complements our requirements of grade A logistics assets with grade A covenant and location as it supports of our strategy of expanding our investment horizon in Europe and to continue to deliver sustainable returns to our investors,” said Eun Young Hyun, Managing Director of Midas International Asset Management.

“This transaction further diversifies NH Securities & Investment’s asset mix into the latest trend in logistics in the Netherlands since our investment in the office asset ‘Edge Amsterdam West’ in Amsterdam in 2018 and we are pleased with the progress especially during the Covid-19 situation. NH Securities & Investment has a long track record for investing high quality assets in strategic locations and this investment is in line with our vision. Looking ahead, we expect the Dutch real estate market will maintain its strong performance and we are glad on our successful collaboration with Warburg-HIH Invest and invested once again in the Netherlands,” said Chris Park, Managing Director of NH Securities & Investment.

Martin Erbe, Head of Real Estate Finance International Clients Germany, CEE & Benelux at HELABA, responsible for the debt financing for the transaction, comments: “We are proud to assist our client with this outstanding acquisition. The transaction confirms the view of investors as well as ours that the Netherlands continues to be an attractive investment market for logistic properties. At the same time the financing demonstrates our relationship approach to follow our clients into their target markets despite challenging times.”

The legal and tax due diligence were carried out by CMS Derks Star Busmann. Cushman & Wakefield was responsible for the technical due diligence, while JLL performed the commercial due diligence.

“Due its geographic location at the North Sea with the Port of Rotterdam, inland rivers and excellent road and rail system the Netherlands is the gateway to mainland Europe. Due to this position our country has become an important hub for logistic services and therefore the logistics real estate market is well matured. Increasing international trade and e-commerce has driven the occupier demand for logistic real estate heavily and therefore this asset class has high priority with investors. Notwithstanding the competitive environment we were able to acquire a sustainable logistics property on behalf of our Korean partners.”

Reinoud Plantenga, Managing Director Warburg-HIH Invest Real Estate Benelux

“This deal was transacted entirely during the ongoing coronavirus pandemic, including site inspections, negotiations, audits and acquisition. Our Korean investors had the capacity to act even during these special times and shown keen interest in the European property market.”

Matthias Brodeßer, Head of Transaction Management International Warburg-HIH Invest Real Estate

“We are very pleased to have completed this transaction as logistics real estate is an auspicious and crisis-resilient asset class. This acquisition complements our requirements of grade A logistics assets with grade A covenant and location as it supports of our strategy of expanding our horizon in Europe and continue of delivering sustainable returns to our investors.”

Eun Young Hyun, Managing Director Midas International Asset Management

“This transaction further diversifies NH Securities & Investment’s asset mix into the latest trend in logistics in the Netherlands since our investment in the office asset ‘Edge Amsterdam West’ in Amsterdam in 2018 and we are pleased with the progress especially during the Covid-19 situation. NH Securities & Investment has a long track record for investing high quality assets in strategic locations and this investment is in line with our vision. Looking ahead, we expect the Dutch real estate market will maintain its strong performance and we are glad on our successful collaboration with Warburg-HIH Invest and invested once again in the Netherlands.”

Chris Park, Managing Director NH Securities & Investment

“We are proud to assist our client with this outstanding acquisition. The transaction confirms the view of investors as well as ours that The Netherlands continues to be an attractive investment market for logistic properties. At the same time the financing demonstrates our relationship approach to follow our clients into their target markets despite challenging times.”

Martin Erbe, Head of Real Estate Finance International Clients Germany, CEE & Benelux HELABA