Transactions - MAY 13, 2022

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Union Investment enters the light industrial asset class

by Released

Union Investment has secured a logistics and production facility in Kassel, Germany, via a forward funding deal.

The acquisition of the industrial building marks Union Investment’s entry into the light industrial asset class. The new headquarters of component manufacturer Hexagon Purus will be constructed in the Langes Feld commercial zone and is scheduled for completion by mid-2023. The purchase is being made for special fund UII Garbe Logistics Real Estate Fund. The vendor is Hamburg-based developer property team AG. The parties agreed not to disclose the financial details of the transaction.

“Demand for light industrial space is high at the moment, but supply is tight. Light industrial properties can be used in a variety of ways and therefore offer a high level of diversification across a wide range of industries. Many investors have come to realize this, which is why investment in light industrial assets has risen steadily in recent years,” said Wolfgang Kess

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