RLI Investors buy fully-let logistics development in southern Berlin for “RLI Logistics Fund Germany II”
- Acquisition from Panattoni Europe via forward funding
- Logistics development property let on long leases from completion
RLI Investors, the independent asset and fund manager and specialist in logistics property, has acquired a 19,200 square metre logistics development in Ludwigsfelde, in the Berlin logistics region, for the portfolio of the open-end special real estate AIF “RLI Logistics Fund – Germany II”. The vendor and developer of the project is Panattoni. Construction is scheduled to start in April 2020, with completion by November.
Let prior to completion
Microvast GmbH, a 100% subsidiary of the US-based international provider of energy storage systems, is to be the long-term tenant of the logistics after completion. The hall is a “built to suit” development for the Microvast, which is establishing its main European site. The proximity to the gateway location of Berlin and the very good transport infrastructure were decisive factors behind the decision to sign the lease. The logistics property is to be built in industrial park 4.0 “An der Eichspitze”. It has good public transport connections, as well as links to the federal road B101 and the A10 motorway.
Sustainable construction and fit-out
The new logistics building in Ludwigsfelde will be sustainably constructed, in line with the latest standards. The logistics asset comprises two separately lettable hall segments, suitable for a wide variety of logistics purposes. It is equipped with 15 loading ramps, two ground-level gates and energy-saving LED lighting. 24/7 operation is possible. On completion, the building will be granted DGNB Gold certification, demonstrating its compliance with the ecological, economic and technical standards.
Berlin/Brandenburg logistics region
“We are pleased to be able to realise this new logistics property in the heavily sought-after south of Berlin in association with Panattoni, Europe’s largest developer in the logistics property sector, in the framework of our first forward-funding agreement,” Peter Wenzel, Director Investment Management at RLI Investors, comments on the acquisition.
Fred Bohne, Managing Partner at Panattoni, summarises the company’s collaboration with RLI: “We have come to know RLI as a partner for speedy transactions and assured implementation. In addition to this project, we are looking forward to realising further developments in the future”.
HEUSSEN Rechtsanwälte advised RLI on the legal aspects of the transaction.Dowload press release
Image source: Panattoni