RLI Investors concludes second closing for “RLI Logistics – Fund Germany II”
RLI Investors (RLI) has concluded the second closing for its “RLI Logistics Fund – Germany II”. Institutional investors provided additional equity commitments totalling 60 million Euros. This brings the equity volume of the fund, which was launched in 2017, to 160 million Euros. The first closing of the fund, in May 2017, had already raised 100 million Euros. A final closing is planned in mid-2018.
The property pipeline is already well stocked for coming months. RLI is currently examining 14 properties for potential purchase, four of them on an exclusive basis.
Last year RLI acquired four properties, for around 76 million Euros, in the Rhine-Neckar, North Hesse, Stuttgart and Duisburg/Lower Rhine logistics regions. They include one of clothing retailer C&A Mode GmbH & Co. KG’s largest European logistics centres, in Monchengladbach. The properties have good to or very good potential to be adapted to alternative uses. Let to top covenants, they are situated in the strongest logistics regions in Germany.
“RLI Logistics Fund – Germany II” is an open-end real estate special AIF, investing in a diversified portfolio of core / core-plus property in Germany. The target investment volume is between 350 and 400 million Euros, including 200 to 250 million of equity. The target distribution yield is 6.75% p.a. The Hamburg-based IntReal International Estate Kapitalanlagegesellschaft mbh has assumed the role of capital management company.