RLI Investors buy state-of-the-art DHL property for RLI Logistics Fund–Germany II
RLI Investors (RLI) has acquired a transhipment hub in Neumunster, completed in 2018, for the portfolio of the RLI Logistics Fund–Germany II. The vendor of the state-of-the-art asset in the off-market transaction is the property holding company Donaubogen Drei mbH, a company of the Hamburg-based Property Team and Wegner Immobilien. Standing on a 15,000 square metre site, the property provides around 3,000 square metres of logistics and office space. It is let to Deutsche Post Immobilien GmbH for its occupier DHL Express for a fixed term of 15 years. The parties agreed not to disclose the purchase price.
DHL operates the transhipment centre in Neumunster for express shipments to Schleswig-Holstein. The property replaces the former DHL-Express location in the city, which had become too small because of the massive increase in the volume of shipments in recent years. The transhipment centre is located in Schleswig-Holstein’s largest industrial area in Neumünster-Süd, where other logistics and CEP service providers, some of them international, are based.
The law firm Glock Liphart Probst advised RLI on legal issues, technical matters were covered by BrandBerger. The sale was brokered by Lütgen Breiholdt Immobilien GmbH & Co. KG. TÜV Süd is responsible for property management.
This acquisition has increased the portfolio of the RLI Logistics Fund-Germany II special AIF to six properties. The fund invests in Core/Core+ logistics properties in Germany. Institutional investors can continue to invest in the fund in the framework of the third closing. It has a target investment volume of 400 million Euro. 173 million Euro has already been invested. Six further properties are under investigation for potential acquisition.