Edmond de Rothschild's European industrial and logistics fund acquires first property in Germany
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 9,500 square metres of storage and production space. Standing on an 18,700 square metre site, it is let to a single tenant. The transaction took place as a sale-and-leaseback.
The purchase was facilitated by the Edmond de Rothschild REIM’s German team.
Felix Lorenz, Investment manager of the Edmond de Rothschild REIM in Frankfurt, explains: "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".
The fund, which has a core-plus risk profile, should provide robust and stable distributions, combined with protection of capital, based on its high level of diversification. The open-ended fund currently has an institutional investor base and is open to investors from a variety of jurisdictions. The objective is to enlarge the fund from its present EUR 110 million to at least EUR 250 million.
The Edmond de Rothschild Euro Industrial Real Estate Fund is structured as an FCP-RAIF domiciled in Luxembourg.