RLI investors (RLI), a German asset manager and fund manager specialising in logistics real estate, just acquired two logistics properties in Lower Saxony that are earmarked for the portfolio of the “RLI Logistics Fund - Germany I.” One of the assets is a logistics and distribution centre in Hodenhagen, a town centrally located within the tri-city area of Hanover – Bremen – Hamburg, while the other asset in located in Achim in the Bremen logistics region. The volume of both transactions combined adds up to nearly €50m.
The property in Hodenhagen has a warehouse area of 21,400m² plus annexed offices and staff rooms. The warehouse is let long-term to the BMW Group and used by the car manufacturer as a new distribution centre that became operational on 01 October. The property has been awarded a DGNB Silver sustainability certificate, and is located near junctions to the motorways A7 (Hamburg – Hanover / Kassel) and A27 (Bremen / Bremerhaven).
The property in Achim has a total usable area of 37,600m², 30 percent of which are let long-term to soft drink vendor Coca Cola who intends to set up a distribution centre here that will serve the Weser-Ems region in the north-west corner of Germany. The property has direct access to the A27 motorway and is licensed for 24/7 operation. It is planned to seek a DGNB Gold certification.
The developer and seller of either construction project is bauwo Grundstücksgesellschaft mbH, a Hanover-based property company. With 25 years in the business, bauwo counts among the most successful mid-market property developers in the metro region of Hanover, the state capital of Lower Saxony.
“Over the past years, the region between Bremen and Hanover has gradually established itself as a top logistics location that companies use as springboard for their distribution in northern Germany,” said Bodo Hollung, Managing Director of RLI Investors. “Both of the assets acquired represent state-of-the-art properties marked by high alternative use potential. Accordingly, they perfectly match our acquisition profile.”
The acquisitions now transacted bring the number of logistics properties bought by RLI investors in 2016 up to twelve, with €282m already transacted this year to date. Meanwhile, another five properties with a combined transaction volume of approximately €100m euros are undergoing their pre-acquisition audits, and the notarisation is expected to take place before the end of October 2016.
