Edmond de Rothschild REIM acquires fully refurbished logistics/light industrial asset in Augsburg
Edmond de Rothschild Real Estate Investment Management (REIM) has acquired Lichthallen, a fully-refurbished logistics / light industrial asset located in Augsburg, Germany for its Euro Industrial Real Estate Strategy from BEOS AG, a subsidiary of Swiss Life Asset Managers in Germany. The acquisition was carried out by Edmond de Rothschild REIM’s German team based in Frankfurt.
The asset is located at Steinerne Furt 62 and benefits from excellent accessibility. The motorway A8 is reachable within a couple of minutes and the city centre is also only a couple of minutes away. Lichthallen, originally built in 1963 – 1972 is undergoing a comprehensive refurbishment offering high quality logistics and light industrial facilities to its tenants. The asset comprises a freehold plot of c. 36,000 sqm, c. 35,000 sqm LFA and is fully-let to three tenants.
Kai Nehen, Director at Edmond de Rothschild REIM: "With this acquisition we diversify our portfolio with a fully let asset in a desirable location in Augsburg at a defensive capital value. We will continue to acquire logistics and light-industrial assets in urban locations with excellent transport links. We are looking forward to the next couple of months which should bring exciting buying opportunities in the core, core+ and value-add segment.”
The Edmond de Rothschild Euro Industrial strategy currently consists of more than 50 assets in the Netherlands, Germany and France with a market value in excess of € 500 million and has a core-plus risk profile which aims to provide stable distributions.
Holger Roberts, Managing Director at Edmond de Rothschild REIM: “We are very pleased about the signing of this transaction. The asset fits our industrial strategy perfectly. The strategy is very well positioned to benefit from the tailwinds in the logistics / light industrial sector, providing strong capital growth over time and benefiting from more secure income streams relative to other asset classes. Augsburg grows our German logistics / light industrial portfolio and we are looking forward to acquiring more assets in 2024.”
Edmond de Rothschild REIM was advised by (in alphabetical order) Cushman & Wakefield and JLL (both valuations), GÖRG (legal), Howden M&A (W&I insurance), KPMG (financial), REALOGIS (commercial) and x.project (technical). The Seller was advised by Colliers (commercial) and Zenk (legal).
DISCLAIMER
This document is issued by Edmond de Rothschild REIM. It has no contractual value and is designed for information purposes only.
The information contained in this document does not constitute an offer or solicitation to trade in any jurisdiction in which such offer or solicitation is unlawful or in which the person making such offer or solicitation is not qualified to act. This document does not constitute and should not be construed as investment, tax or legal advice, nor as a recommendation to buy, sell or continue to hold any investment. The Edmond de Rothschild Group shall not be held liable for any investment or divestment decision taken on the basis of the information contained in this document.