Hines is strongly committed to its investment strategy in the logistics sector in Europe. The global real estate investment, development and management firm, through its core-plus fund, Hines European Property Partners (HEPP), has acquired five logistics assets in Spain, the Netherlands and the United Kingdom through three purchase transactions with different sellers.
The company notes that, despite the current macroeconomic situation, there is strong demand for high quality logistics assets due to their solid tenant base and fundamentals. The acquired assets are located in strategic locations, such as Josep Tarradellas Barcelona-El Prat airport in Spain, near Schipol airport in the Netherlands, and in an urban area between Liverpool and Manchester in the UK. All assets have excellent transport links and accessibility.
Hines has closed logistics deals worth €1.4 billion in Europe
In line with Hines' investment strategy of adding value in the logistics sector, the company has acquired the five assets at an attractive capital value and at a significant discount to replacement cost. These projects are tailored to the needs of their current and future tenants and are 100% leased, with an average lease term of 7.5 years.
Last year, Hines closed deals in the logistics sector worth approximately €1.4 billion across Europe. In addition, it is currently developing around 744,000 square metres of logistics space in assets in several European countries, including the Czech Republic, France, Germany, Italy, Poland, the Netherlands, Spain and the UK. This will increase its portfolio of logistics assets under management and development in Europe to more than €3.2 billion.
Jorge Duarte, HEPP's fund manager at Hines, commented, "These acquisitions reflect our interest in focusing our investment strategy on adding well-located logistics assets in the most dynamic areas of Europe, at competitive prices, especially in the current market context. We continue to focus on acquiring logistics assets across Europe to which we can add value over the investment period through proactive management and an ESG approach.