RLI Investors acquires fifth property for the “RLI Logistics Fund – Germany II”
RLI Investors (RLI) has acquired a property situated around 20 kilometres west of Darmstadt for the “RLI Logistics Fund – Germany II”. The purchase price is around 36 million Euro.
Completed in 2000, the building stands on a ca. 58,650 square metre site. It provides total lettable area of ca. 35,700 square metres. Around 31,000 square metres of this is logistics accommodation, with ca. 3,900 square metres of offices and staff rooms. The sole tenant of the property is an internationally active logistics company.
Katrin Poos, managing director of RLI Investors: “The property is a very good complement to the fund portfolio. Situated in one of the most efficient logistics regions in Germany, with 24-hour operation and very good adaptability, the property is suitable for a wide range of potential occupiers. The quality of the building is particularly noteworthy. For example, even in the construction phase, the halls were already adapted to current requirements for the storage of hazardous goods.”
The property has good connections to the national road network. There are junctions on the A5 and A67 motorways within only 7 km.
Commercial agent Joachimsthaler advised RLI on the transaction. Görg Rechtsanwälte carried out the legal and taxation due diligence.
RLI finalised the second closing of the “RLI Logistics Fund – Germany II” in February 2018, receiving equity commitments totalling 165 million Euro. The final closing, with a target investment volume of ca. 400 million Euro and a maximum equity element of up to 250 million Euro, is scheduled for mid-2018.
In the last year, RLI had already acquired four properties, for a total of around 76 million Euro, in the Rhine-Neckar, North Hesse, Stuttgart and Duisburg/Lower Rhine logistics regions. Further property acquisitions are currently in the exclusivity phase.