On behalf of the European Value Add Fund II (EVAF II), Invesco Real Estate has sold the 73,500-square-meter (791,150-square-foot) logistics center Mittelsachsen (LZM) in Hainichen, Germany, to Hines European Property Partners (HEPP), a core-plus fund managed by Hines. The sale is EVAF II's first exit in Germany and second overall.
Located between Dresden and Chemnitz in Saxony, Hainichen was initially acquired in early 2021 and developed in partnership with Fuchs Immobilien GmbH & Co. A new seven-unit facility was developed with a strong focus on the highest sustainability standards. Qualifying for the KfW40 environmental subsidy, it also obtained DGNB Gold Certification. The logistics center was completed in December 2022 and is now fully leased to the discounter Lidl.
EVAF II aims to deliver superior risk-adjusted returns through intensive asset management, creating stabilized assets for sale into core markets. With flexibility to invest across all sectors, th
