Heitman Expands Logistics Platform in Germany
- Oct 20, 2015
Bremen, Germany – Global real estate investment management firm Heitman LLC has agreed to acquire a logistics property and adjacent development parcel in the core logistics submarket of Bremen, in Northwest Germany.
The asset Heitman purchased on behalf of one of its institutional clients comprises an existing 107,600-square-foot (10,000-square-meter) logistics facility which will be refurbished, and a soon to be delivered 245,400-square-foot (22,800-square-meter) logistics development. Upon completion, the project will be 100 percent leased on a long-term basis to the seller, an established German logistics operator.
“This transaction represents the type of creativity and dexterity our team brings to bear on behalf of our clients across asset types and markets. In this case, we simultaneously navigated through a refurbishment, a forward purchase and a sale leaseback, delivering our client a core finished product at an attractive price,” Rob Reiskin, managing director and co-head of Europe at Heitman, said.
Heitman’s European team has extensive experience in the logistics sector, having actively invested in multiple jurisdictions during the past two decades.
Founded in 1966, Heitman LLC is a global real estate investment management firm with over $34 billion (€30 billion) in assets. The company invests in commercial real estate directly or in publicly traded real estate securities. In Europe, Heitman manages $4.19 billion (€3.7 billion) in 407 assets across 15 countries. The firm is uniquely structured, with 50 percent of the company owned by 34 senior employees and 50 percent owned by a U.S. subsidiary of Old Mutual plc.