Ashurst has provided comprehensive legal advice to HIH Invest Real Estate on the acquisition of a logistics project in Herten, North Rhine-Westphalia. Together with Danish investor Nrep, HIH Invest is investing in the development of a modern logistics park with approximately 37,000 square meters of rental space as part of a joint venture. The seller and project developer is the E-Group. The transaction was carried out by means of so-called forward funding.
The project is being developed on a 65,220 square meter former coal brownfield site in the Emscherbruch district. Completion is scheduled for mid-2026. Over 33,000 square meters of the rental space will be dedicated to logistics areas, complemented by office and mezzanine spaces. Almost half of the space has already been pre-let. The property is being constructed in accordance with taxonomy requirements and aims for DGNB Gold certification. The sustainable energy concept includes a photovoltaic system with a capacity of 2.2 megawatts as well as modern heat pump technology.
HIH Invest structured the investment, arranged the financing, and will be responsible for asset management. Nrep is contributing capital from its value-add fund "Nordic Strategies Fund V," currently the largest of its kind in Europe. The project is being developed through Nrep's logistics platform Logicenters.
The Ashurst team, led by partner Dr Liane Muschter, advised on legal due diligence and contract drafting. She was supported by counsel Christopher Jeschor, associate Achim Weimer, and transaction lawyer Ibrahim Ünal (all Real Estate, all Frankfurt). Tax matters were handled by Tino Duttiné (partner).
