Texan-based investor Hines has bought its fifth UK logistics property site in a single year, as US money pours into warehouse real estate.
Hines has acquired the 147,000 sq ft Cross Point Business Park, an industrial warehouse in the West Midlands, 24 miles east of Birmingham outside of Coventry. The 27 year old warehouse, refurbished in 2015, is leased to support services business Restore PLC a support services company.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 225 cities in 25 countries. Hines has approximately $144.1 billion of assets under management, including $75.5 billion for which Hines serves as investment manager, including non-real estate assets, and $68.6 billion for which Hines provides third-party property-level services.