The Edmond de Rothschild Euro Industrial Real Estate Fund (EIREF) has purchased an industrial property in Worms, in Rhineland-Palatinate, its first acquisition in Germany. The purchase is in line with the fund’s European orientation. The property purchased provides 9,500m² of storage and production space. Standing on an 18,700m² site, it is let to a single tenant. The transaction took place as a sale-and-leaseback. The purchase price was not disclosed.
Felix Lorenz, Investment manager of the Edmond de Rothschild REIM in Frankfurt, explained: "So far, we have primarily purchased properties for the fund in the Netherlands, where there are many high-quality logistics assets on the market. We are now effecting the strategic expansion of the fund by making acquisitions in Germany. More transactions are expected to follow, particularly in the next six months".
