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Press Releases 16 Mar 2020

LPA-GGV advises bauwo on the sale of a logistics development located in Hannover

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Press Release, 10 July 2020

Munich, 16 March 2020  – LPA-GGV Munich has advised the Hannover based project developer bauwo Grundstücksgesellschaft mbH on the sale of a logistics centre still under construction located in the urban area of Hannover.

The completion of the brownfield development is scheduled for October 2020.

After having acquired the former Max-Müller-ironworks property of approx. 68,000 sqm in 2016, bauwo has demolished the old building stock and comprehensively cleaned up the site. The new logistics centre comprises three units of in total approx. 18,000 sqm.

The logistics centre is fully leased to LAPP, the Stuttgart based world market leader in integrated solutions for cable and connection technology.

Purchaser is the Munich based investment manager with focus on logistics properties LIP Invest GmbH, which has acquired the logistics centre for its real estate funds “LIP Real Estate Investment Fund – Logistics Germany II”.

bauwo:
LPA-GGV (Munich): Dr. Bernd Spieth (Partner, Lead Advisor, Real Estate), Katarina Krekovic (Senior Associate, Real Estate)

bauwo:
LPA-GGV (Munich): Dr. Bernd Spieth (Partner, Lead Advisor, Real Estate), Katarina Krekovic (Senior Associate, Real Estate)