RLI Investors has acquired an 18,600m² logistics property in the Rhine/Main logistics region, in an off-market transaction, for its open-ended special AIF "RLI Logistics Fund – Germany II". The vendor is a closed-end real estate fund based in Bavaria. The property is fully let on a long lease to a globally active automotive components supplier. The purchase price was not disclosed.
The location of the logistics property, which was constructed in 1992, is strategically important for its US-based tenant. It is used to test, assemble and pack 'just-in-time' car seats before delivery to the customer in Russelsheim, which is only 10 kilometres away. The flexibly divisible hall, which is accessible from all sides, has 22 loading ramps. Apart from 16,500m² of hall space, the scheme offers 2,100m² of offices. The exterior areas have adequate space for manoeuvring and docking processes. Tenants also benefit from the trimodal transport infrastructure.
"We were able to acquire the logistics property at a reasonable price, which will have an extremely positive effect on securing the planned 6.75% target return for the fund," explained Katrin Poos, managing director of RLI Investors. "Together with its absolutely central location in one of the most dynamic logistics regions in Germany, the decisive factor behind the acquisition of the existing property in Ginsheim-Gustavsburg was its excellent adaptability".