Aareal Bank is financing and structuring a pan-European portfolio of logistics warehouses and distribution properties for a minimum level of up to 100 million within the scope of a master facility agreement. The facility is provided for a Sharia-compliant investment platform, the "Queristics Fund". The fund, with an investments target of 400 million, is a joint venture between Kuwait Finance House and the Amsterdam-based property investment manager Equity Estate.
"Investors from the Gulf States are increasingly looking for investments in the euro zone, which they find attractive. The logistics market offers particularly interesting growth potential as a result of the eastern expansion of the EU. The special expertise in Sharia-compliant finance structuring, which we have already learned to appreciate in previous investments, combined with the specialist logistics and pan-European structuring expertise makes Aareal Bank a valuable partner for us," commented Ralf Wessel, investment manager at Equity Estate.
The first two logistics centres acquired for the fund have a total volume of nearly 40 million and are located in Willebroek in Belgium and Kassel in Germany. The properties are fully let to reputable companies in the logistics business. Further logistics properties are expected to be acquired in the Benelux, France and Germany.
Source: Aareal Bank