HEUKING advises HIH Invest on sale of OBI home improvement store in Hanover

A Hamburg-based team led by HEUKING Partner Dr. Sönke Görgens legally advised HIH Invest Real Estate on the sale of a home improvement store including a garden center in Hanover-Linden. Sonae Sierra and Spain’s Bankinter Investment acquired the home improvement center from HIH Invest on behalf of ORES Germany for the newly established Spanish REIT. The property was brokered by CBRE.

The home improvement store that is currently leased to OBI and is featuring a total usable floor space of 17,621 square meters as well as some 700 parking spots was built on a 48,709 square meter site in 2000.

Headquartered in Hamburg, HIH Invest is an investment manager for real estate in Germany and Europe. The home improvement store located at Elfriede-Paul-Allee 15 in the Lower Saxony capital was part of the portfolio of “HIH Germany High Income Fund,” an open-ended special AIF launched in 2014.

The team led by Görgens regularly advises HIH Invest; most recently on its acquisition of Gold Tree’s Oyster portfolio.

Counsel to HIH Invest Real Estate GmbH
HEUKING:
Dr. Sönke Görgens (Lead),
Jeannine Drossart (both Real Estate), both Hamburg