RLI Investors has acquired a 19,200m² 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. The property will be let to Microvast, a 100% subsidiary of the US-based international provider of energy storage systems. The purchase price was not disclosed.
The new logistics building will be sustainably constructed, in line with the latest standards, and will comprise 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.
“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,” said Peter Wenzel, Director Investment Management at RLI Investors.
Fred Bohne, Managing Partner at Panattoni, commented: “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.”