Burstone Group, the fully integrated international real estate business, and Hines, a leading global real estate investment manager, on behalf of Hines European Real Estate Partners III (HEREP III), have formed a joint venture (“JV”) to aggregate a pan-European portfolio of light industrial assets. Burstone will invest 20% of the JV equity and be responsible for investment and asset management activity. This JV builds on Hines’ established European industrial platform, which totalled over €5 billion in gross asset value as of December 2025.
Employing a value-add and opportunistic strategy, the JV is seeking to create and unlock value through investing across the light industrial submarket including stabilised assets, vacant or short income assets with significant repositioning potential, sale and leasebacks as well as development forward fundings and commitments. The initial focus will be on Germany and the Netherlands, Europe’s two most dominant – by road freight and number of major distribution hubs – and liquid industrial & logistics markets. The JV will target assets in established commercial locations near large extended urban areas with good transport links where there is a depth and spread of occupier demand.
The JV has already deployed over €40 million to acquire, predominantly off market, four assets in Germany and two in the Netherlands, totalling c. 49,000 square metres. 90% occupied, as of December 2025, by businesses spanning the warehousing, storage & distribution, last mile and wholesale trade sectors, the JV will undertake a phased capex programme across the portfolio to reposition the assets and drive rental growth.
Source: press release received on 17 March 2026