HIH Invest Real Estate (HIH Invest) has acquired a logistics development in Herten, North Rhine-Westphalia, in a joint venture with the international private equity investor Nrep (Nordic Real Estate Partners) and its logistics platform Logicenters. HIH Invest initiated the deal, structured the investment and the financing and acts as asset manager of the property. Nrep is investing with its value-add fund Nordic Strategies Fund V, the largest value-add property fund in Europe to date.
The joint venture has concluded a forward funding purchase agreement with the seller and project developer, the E-Group. Construction of the logistics park on the 65,220 square metre site at Emscherbruch 10 has already begun. Of the total rental space of 36,821 square metres, 33,416 square metres is logistics space, 1,153 square metres is office space, and 2,252 square metres is mezzanine space. There are also 170 car parking spaces and five lorry parking spaces. The property is expected to be completed and ready for occupancy by mid-2026. Almost half of the space has already been let to a well-known company and negotiations are underway for the remaining space.
Source: Press release sent 20 May 2025