Invesco sells 73,500 sqm Hainichen logistics asset to Hines in fxirst German exit for European Value-Add Strategy

Invesco Real Estate, the USD 89bn global real estate investment business of Invesco Ltd. (NYSE: IVZ), has sold its 73,500 sqm Hainichen logistics asset, which it completed in December 2022 and is fully let to a major German retailer, to a fund managed by Hines. The sale was transacted on behalf of Invesco’s European Value Add Fund II (EVAF II)

The disposal is EVAF II’s first exit in Germany and second overall. A strong example of a comprehensive redevelopment project resulting in material value creation for investors, the Hainichen sale has crystalised significant outperformance. 

EVAF II is the second fund in a series by Invesco Real Estate dedicated to pan-European value-add investment. It aims to deliver superior risk-adjusted returns through intensive asset management, creating stabilised assets for sale into core markets. With flexibility to invest across all sectors, the underlying strategy focuses on micro-locations with the greatest demand from tenants. 

Located between Dresden and Chemnitz in Saxony, Hainichen was initially acquired in early 2021 and developed in partnership with FUCHS Immobilien GmbH & Co. KG. A new seven-unit facility was developed with a strong focus on the highest sustainability standards. Qualifying for the KfW40 environmental subsidy, it also received DGNB Gold Certification. 

Saxony has become a valuable location for Europe-wide distribution, with nearby Leipzig airport the second largest in Germany. The Hainichen site is located adjacent to the A4 motorway in the Leipzig/Dresden/Zwickau triangle. It is near the Polish & Czech border, with excellent connections to both Krakau and Prague. Approx. 6 million consumers can be reached within a 70 minutes’ drive.

You can now read the full press release at the link below

Supporting documents

Click link to download and view these files