RLI Investors, an independent asset and fund manager specialising in logistics property in Germany, has acquired another property for its RLI Logistics Fund – Germany II in the framework of an off-market deal from the REDEVCO Group. The purchase price is around €30m.
Following last month's acquisitions in Bruchsal and Ludwigsburg, the logistics property in Monchengladbach is the third property to be acquired for the fund's portfolio within a short period. The fund completed its first closing in May 2017, by when it had already raised €100m from well-known institutional investors. The second closing is scheduled for the end of 2017.
The fully let property in Dieselstrasse, Monchengladbach is clothing retailer C&A Mode GmbH & Co. KG's largest and most important logistics centre in Europe. The company is the sole occupier of the around 64,000 m² of accommodation provided by the asset.
Katrin Poos, managing director of RLI, comments: "The expansion of the portfolio of the RLI Logistics Fund - Germany II in such a short period emphasises our competence in identifying and acquiring interesting investment properties in the market. We benefit from our existing network of offices and the close cooperation with developers. RLI is already investigating further purchases."
"In addition, we are fulfilling the promise to our investors that the subscribed capital would be invested rapidly", adds Wolfgang Holzberger, who is the joint head of RLI with Poos and is responsible for transaction management and investor support.
