Hines plans to invest roughly €400 million in the German logistics market over the next 18 to 24 months as part of its new investment strategy.
The company made its first acquisition under the strategy with a 36,000-square-meter logistics complex in Maintal, close to Frankfurt, on behalf of the Hines Global Income Trust Inc. fund for an undisclosed sum.
The property was acquired from private investors Werner Gutperle and Jürgen B. Harder and is leased to DHL, logistics provider Schenker and timber wholesaler Becher.
Pöllath & Partners advised Hines on the acquisition, which was supported by JLL.