Hillwood Investment Properties Secures €55M Development Financing for German Logistics Portfolio
Hillwood Investment Properties has closed €55 million in development financing for a German logistics portfolio, according to an announcement from Hillwood Urban. Morgan Stanley Investment Management provided the senior debt for the transaction.
Deal Overview
The financing supports a portfolio of industrial properties across Germany. The €55 million loan is structured as development financing, with Hillwood Investment Properties serving as the borrower.
The portfolio includes properties in Dortmund, Frankfurt am Main, and Gelsenkirchen. The Dortmund property, Hillwood Park Dortmund, comprises five buildings totaling approximately 1.6 million square feet of industrial space and counts DHL among its tenants. The Frankfurt asset, Hillwood Logistics Center Frankfurt, encompasses roughly 860,000 square feet across three buildings. A third property, the Hillwood Ruhr Valley Facility in Gelsenkirchen, totals approximately 484,000 square feet across two buildings. Specific addresses for each property carry low confidence and have not been independently verified.
Transaction Structure
Morgan Stanley Investment Management provided the €55 million in senior debt for the portfolio. No additional financing terms, including loan term, interest rate, or loan-to-value ratio, were disclosed. The transaction is classified as a development financing event.
The portfolio's properties vary in development stage. The Dortmund asset reported approximately 65% occupancy, while the Frankfurt property remains under construction with no current occupancy. The Gelsenkirchen facility, which underwent renovation in 2025, reported approximately 80% occupancy.