- Day nursery in the Bavarian town of Germering purchased for the “Zukunft Invest” fund
- Gross lettable area of around 2,240 square metres
- Lease agreement with “Denk mit!” day nursery operator
Hamburg, 28. March 2022 – Die HIH Invest Real Estate (“HIH Invest”) just acquired another day nursery (crèche) for its open-ended special AIF, “Zukunft Invest.” The property, located in Germering near Munich, is a day nursery of five groups completed in 2020, split into three crèche groups and two preschool groups, and accommodating a total of 86 children on around 2,240 square metres of floor space. It comes with extensive outdoor play areas in the garden and on a secured roof terrace accessible from the third floor. The lease signed with the “Denk mit!” day nursery operator, who also manages other day nurseries held by the same HIH Invest fund, is for a fixed term of 13 years. The property was built and sold by Bambini Kinderbetreuungseinrichtungen GmbH & Co. KG, a property developer and day nursery operator with a track record of over 50 projects realised. The transaction took the form of an asset deal.
Jens Nagelsmeier, Head of Transaction Management Retail & Healthcare at HIH Invest, commented: “The investment combines the increasingly important ESG criteria that a secure investment in social infrastructure provides with a speedy drawdown of committed funds. Owing to the long lease term with the operator, who is already familiar to us as a very reliable partner, the acquisition implies a highly stable cashflow.”
The district capital of Germering has a population of 40,500 and is located south-east of Fürstenfeldbruck district, roughly 20 kilometres from downtown Munich. The population growth here follows an upward demographic trend. The property site is located inside a residential area that is both central and conveniently accessible along one of the major north-south transit routes and easy to reach from the entire city area. Located next door, the “Germering-Unterpfaffenhofen” rapid transit station offers swift service connections to Munich for commuting parents, for instance.
“The current ratio of day-care spots to the number of children points to a caregiving gap in Germering and its greater region. This is particularly true for toddlers below the age of three. Indeed, the gap would widen considerably without the recently completed day nursery,” Jens Nagelsmeier added.
The legal and tax due diligences were conducted by the law firm of Heuking Kühn Luer Wojtek in Hamburg. Witte Projektmanagement GmbH in Munich was responsible for the technical and ESG due diligence.
“The investment combines the increasingly important ESG criteria that a secure investment in social infrastructure provides with a speedy drawdown of committed funds. Owing to the long lease term with the operator, who is already familiar to us as a very reliable partner, the acquisition implies a highly stable cashflow.” “The current ratio of day-care spots to the number of children points to a caregiving gap in Germering and its greater region. This is particularly true for toddlers below the age of three. Indeed, the gap would widen considerably without the recently completed day nursery.” Jens Nagelsmeier, Head of Transaction Management Retail & Healthcare HIH Invest
