HIH Invest Real Estate has just sold two HGV service stations in Poland on behalf of an investment fund owned by a German pension scheme and by a foundation. The assets were purchased by Investika, a Czech investment company formed in 2015. The closing of the transaction is scheduled for January 2022.
The two-property MAN portfolio was built in 2010 and comprises a rental area of just under 4,000 sqm each. The two truck workshops in Gdansk and in Wroclaw are each fully leased to MAN Truck & Bus Polska until 2032. They are part of a portfolio of MAN bus and truck service points in Poland, the Czech Republic, Denmark, Great Britain and Germany, which HIH originally developed and completed in 2010.
“Poland is a logistics location that is in high demand. The service portfolio also benefited indirectly from the corresponding interest. Despite the specific use, we were able to sell the properties as planned after a holding period of just under ten years with a satisfactory sales price and good overall returns,” said Matthias Brodesser, Head of Transaction Management International at HIH Invest.
“We scored particularly well with the long remaining term of the leases and good tenant creditworthiness”, emphasised Nico Göckeritz, Senior Transaction Manager International at HIH Invest, who’s responsible for the Polish market.
Legal and fiscal advisory services to the seller were provided by the law firm of Greenberg Traurig. Cushman & Wakefield acted sales agent.