Purchase of 14,000 sqm distribution unit in Billbrook, Hamburg for German logistics portfolio
HSBC Specialist Investments has completed the purchase of a 14,221 sqm distribution unit which is built on a 33,600 sqm site in the industrial area of Billbrook in Hamburg. The business has acquired the distribution property from an international, corporate owner occupier, as a 15 year sale and leaseback on triple net terms.
Within the past 15 months the business has acquired over 500,000 sqm of industrial space in the U.K.. The Hamburg transaction is the first distribution unit acquired by the business in Germany as part of its investment strategy into German distribution assets.
Joram Szerkowski from HSBC Specialist Investments Limited (HSIL) commented: “We are very pleased to have completed our first distribution deal in Germany following almost 20 years of continued investment history in the U.K. industrial market. We have already secured a number of further distribution assets, which will also complete shortly, to grow our German Distribution Portfolio and further assist us with our investment plans in Germany".
BNP Paribas Real Estate GmbH advised in the transaction.