US investment manager HighBrook Investors, together with asset and property manager Valon, has expanded the Urban-Logistics platform formed this year. The properties are located close to cities in North Rhine-Westphalia and Rhineland-Palatinate: Dortmund, Iserlohn, Bochum and Alzey. In total, approx. 33,000 sqm of rental space was acquired.
The property in Dortmund is let to a well-known electronics manufacturer. The property in Iserlohn has been let long-term to a leading manufacturer of aluminium press tools as part of a sale and lease-back transaction. The property in Bochum is let long-term to one of the largest food retailers in Germany. In Alzey, a vacant property was acquired opportunistically.
In addition to the corresponding letting activities, the next steps include ESG measures as part of the repositioning of the properties and the acquisition of further properties for the portfolio in Germany. A particular focus is on value-add properties for the Rhine-Ruhr and Rhine-Main submarkets.
Oliver Oser, Managing Director of Valon, comments: “We are pleased to continue to grow HighBrook’s portfolio in the current challenging investment environment. We continue to see enormous potential in the logistics leasing markets, which is why we are also venturing into vacant properties and want to continue to actively grow the portfolio. As a result of our range of specialised services in the technical sector, we are also venturing into management-intensive value-add properties in this regard in order to reposition them.”
HighBrook Investors is a private equity real estate investor focused on value-add investments in Western Europe and the United States. HighBrook manages a number of commingled closed-end funds from offices in London, New York and West Palm Beach. The company is a very active investor in the German, Dutch and Danish real estate markets across all asset classes. In Germany, HighBrook aims to build a last-mile logistics platform with a focus on the NRW and Rhine-Main regions. In 2022, 8 properties have already been acquired for this strategy.