Urban Partners and HIH Invest Real Estate have continued their partnership and acquired another development project in Hamburg. The freehold property acquired is located directly on Hamburg's seaport and offers trimodal connections. The plan is to realise a highly flexible logistics park with a prospective total rental area of approximately 77,000 square metres, divided into three building sections.
The area breakdown comprises around 64,000 square metres of warehouse space, consisting of approximately 54,700 square metres of storage, 6,600 square metres of mezzanine, and 2,700 square metres of office space. Additionally, around 14,000 square metres are designated for industrial outdoor storage areas. A significant portion of the planned rental space, approximately 45,000 square metres, has already been fully let. The remaining approximately 32,000 square metres will be jointly marketed by HIH Invest and Four Parx and can be rented in units starting from around 6,500 square metres.
The brownfield site offers trimodal connections via road, rail, and a harbour basin. Direct access to the Elbe with its own jetty is available. The project development is being carried out in cooperation with Four Parx as part of a forward funding model. The aim of this development is to achieve DGNB Gold certification, which underscores the focus on sustainable construction.
This logistics investment is financed by funds from the Urban Partners NSF V Fund and represents Urban Partners' and HIH Invest's second logistics investment in Hamburg, following the project in Hamburg-Billbrook. Overall, this is the fifth logistics transaction of the existing joint venture.
Wolfgang Ködel, Managing Director and Head of Real Estate Germany at Urban Partners, emphasised the project's importance for the German logistics sector and Hamburg's attractiveness as a metropolis. He pointed to the 50 per cent of the area already pre-let as an indicator of the high site quality. Lars Bothe, Head of Value Add Investments at HIH Invest, expressed satisfaction with the second joint realisation of a project in the Hamburg logistics market and highlighted the focus on locations with sustainable value creation potential. Maximilian Tappert, Head of Transaction Management Logistics at HIH Invest, added that the acquisition of this rare logistics site with its trimodal connections enables the creation of modern logistics spaces that meet the demands for efficiency, resilience, and sustainability.
The vendor was advised on the transaction by Cushman & Wakefield and legally by Taylor Wessing. Legal due diligence on the buyer's side was carried out by Ashurst. Drees & Sommer was responsible for technical consultancy. The further letting of the spaces is the responsibility of HIH Invest and Four Parx.
