Hines has acquired five European logistics assets across three separate transactions from different vendors on behalf of its Hines European Property Partners (HEPP) core-plus fund for an undisclosed price.
In the UK, Hines has bought a warehouse in Warrington (pictured), an asset in Spain is located five minutes from terminal two at Aeropuerto Josep Tarradellas Barcelona-El Prat and the rest of the assets are in The Netherlands situated adjacent to Schiphol Airport.
All of the assets are fully let with a weighted average unexpired lease term of approximately 7.5 years.
Jorge Duarte, fund manager of HEPP at Hines, said: “These acquisitions reflect our value and income-focused logistics aggregation strategy to carefully pinpoint well located assets within Europe’s most dynamic regions, at attractive prices, particularly in the context of the current market environment. We remain focused on acquiring attractively priced income producing assets throughout Europe, which we can add value over time through proactive asset management and a focus on ESG.”
