HIH Invest Acquires another Asset for its Childcare Investment Fund

• Day nursery in Bremen-Blumenthal bought for the “Zukunft Invest” fund
  
• Gross lettable area of around 1,290 square metres


• Lease agreement with “HanseaSana gGmbH” day nursery operator

Hamburg, 19. July 2022 – HIH Invest Real Estate (“HIH Invest”) just acquired a day nursery (crèche) in Bremen for its “Zukunft Invest” open-ended special AIF. The property is located at Zum Krempel 2 in the Blumenthal district, and represents a two-storey listed building from 1898 that previously served as administrative building of Bremer Wollkämmerei, a wool carding works that went out of business in 2009. In 2021, the property underwent shell-and-core refurbishment. The total lettable area of 1,290 square metres breaks down into 965 square metres for the day nursery with its 70 childcare places, and 325 square metres of office and training rooms. The group rooms of the day nursery are generously proportioned and have direct access to the expansive grounds. The building is let in its entirety to the HanseaSana gGmbH day nursery operator on a term of almost 24 years.

Jens Nagelsmeier, Head of Transaction Management Retail & Healthcare at HIH Invest, commented: “The childcare ratio in Bremen is well below the current demand for childcare. Due to the massively pent-up demand and the fact that demand planning is controlled by city hall, the parameters are quite auspicious. The lengthy lease term with the day nursery operator secures a very stable cash flow for this investment.”

The district of Blumenthal is characterised by family-friendly residential quarters that combine detached homes with multi-family dwellings and larger housing estates, while also having a historically evolved infrastructure along with numerous leisure and recreational amenities. Due to the direct proximity of Wätjens park and the bank of the River Weser, the site is very kid-friendly, with many options for spending time outdoors. According to the plans of the City of Bremen, the site of the former wool carding works is to be converted into an educational campus featuring up to five vocational schools plus micro-businesses and small trade businesses.

The legal and tax due diligences were conducted by the law firm of Heuking Kühn Luer Wojtek in Hamburg. The technical due diligence was performed by C. P. H. Projekt- und Baumanagement GmbH, a Hamburg-based development and consultancy firm.

“The childcare ratio in Bremen is well below the current demand for daycare. Due to the massively pent-up demand and the demand planning done by city hall, the parameters are quite favourable. The lengthy lease term with the day nursery operator secures a very stable cash flow for this investment.”
Jens Nagelsmeier, Head of Transaction Management Retail & Healthcare HIH Invest Real Estate