Hines announced it has acquired a modern core logistics building in the heart of the Ruhr region for its open-end Hines European Core Fund (HECF).
The logistics property, ESSENtial, was completed in 2015 and is part of the Medion Technology Campus in Essen-Kray, Germany, directly on the A40 motorway. At the time of its construction, the 35,000-square-meter (376,737-square-foot) site played a pioneering role in sustainable development due to its use of geothermal energy and a ventilation system with heat recovery.
“It is the second logistics asset acquired by HECF over the summer, following the acquisition of a 55,000-square-meter (592,015-square-foot) warehouse in Valencia, Spain, as the fund seeks to capitalize on improving market conditions,” said Simone Pozzato, senior managing director and fund manager at HECF. “We are delighted to add this prime asset to HECF’s growing logistics portfolio on behalf of our investors, and we are actively screening new opport
