Hines has acquired four mid-box logistics assets in Greater London and the Midlands for £60 million ($80 million; €69 million), according to PERE Deals. The properties, totaling 290,000 square feet across Poyle, Purfleet and Bardon, are fully leased to tenants including Aramex, Pharmacy2U, Headlam and DHL. The firm defines mid-box as one or two units spanning roughly 200,000 square feet. Hines made the investment on behalf of its HEPP fund, launched in April 2022 with €1.5 billion in commitments. The fund now holds eight UK mid-box properties worth £150 million, expanding its British industrial footprint to €1 billion. Ross Blair highlighted the strategy's advantages: acquiring at a discount, absence of core investors, and tenant diversity. Hines European industrial platform already manages €5 billion in assets and will grow further with a new venture with Burstone. Tatiana Tezel was appointed manager for HEPP earlier this month.

This acquisition underscores Hines' aggressive push into UK logistics infrastructure, targeting facilities serving e-commerce and freight forwarding. The £60 million deal reflects strong demand for flexible industrial space amid supply chain pressures. By focusing on mid-box properties, Hines aims to capture tenants seeking cost-effective warehousing solutions. The portfolio expansion to eight properties with £150 million in gross value demonstrates the strategy's scalability. The fund's £2 billion of gross assets across 42 properties indicate significant capital deployment in European real estate.

The move positions Hines to capitalize on sustained logistics demand while benefiting from current market conditions. With tenant diversity reducing risk and the absence of core investors, the strategy appears well-timed. The appointment of Tezel as HEPP manager suggests Hines' commitment to scaling this specialized approach. The £60 million acquisition, combined with the broader European industrial platform growth, signals Hines' intent to dominate mid-box logistics assets across the UK and Europe.