Edmond de Rothschild acquires urban logistics property in Cologne
The Edmond de Rothschild Euro Industrial Real Estate Fund (EIREF) has purchased an urban logistics property in Marconistrasse 4-8 in Cologne, in North Rhine-Westphalia. The property is located in an established industrial and logistics area, next to an Amazon distribution centre.
The property provides 9,600 square meters of lettable area of which 9,000 square metre are storage and 600 square metre are office space. Standing on an 14,000 square metre site, it is fully let to a single tenant active in B2B wood trading. The transaction was sourced directly from the vendor without the involvement of a broker. The purchase was handled by Edmond de Rothschild REIM’s German team.
Felix Lorenz, Investment manager at the Edmond de Rothschild REIM in Frankfurt, explains: "This is the Fund’s second acquisition in Germany, following the purchase of an industrial property in Worms earlier this year. More transactions are expected to follow shortly as we want to further expand the Fund’s portfolio in Germany".
The fund, which has a core-plus risk profile, aims to deliver stable distributions. The open-ended fund has an institutional investor base and is open to investors. The objective is to increase the capital raised for the fund from its present € 110 million to at least € 250 million. The Edmond de Rothschild Euro Industrial Real Estate Fund is structured as an FCP-RAIF domiciled in Luxembourg.