Hines Completes Logistics Acquisition on Behalf of its European Value Fund
Hines, the international real estate firm, has acquired Cribbs Causeway Distribution Centre, a value add-profile logistics investment located in Bristol, a key United Kingdom distribution hub, on behalf of the Hines European Value Fund (HEVF).
Hines' UK team advised HEVF on the fund's first logistics acquisition, which was acquired off market from M&G Real Estate and is HEVF's fourth acquisition in the last 12 months.
Cribbs Causeway Distribution Centre is located adjacent to Junction 17 of the M5 motorway, seven miles north of Bristol's city center, and contains 423,000 square feet of logistics space that is currently subdivided into a refrigerated storage section and conventional stacked storage space. The asset is fully leased to a single tenant, although they are no longer in occupation and their lease expires in 2020.
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