Edmond de Rothschild REIM secures €200 million of new equity for its Industrial Property Fund
Edmond de Rothschild Real Estate Investment Management has secured €200 million of new equity for its Edmond de Rothschild Euro Industrial Real Estate Fund, increasing its investment capacity to €500 million.
The new commitments, which raise the equity in the fund to €340 million, were secured from some large German investors, some institutional and private clients of Edmond de Rothschild as well as several existing investors in the fund.
The Edmond de Rothschild Euro Industrial Real Estate Fund (EIREF) was launched in December 2018 by Edmond de Rothschild REIM to invest in light industrial and small logistics assets in urban areas in the Benelux, Germany and France, capitalising on the growth of ecommerce, last-mile delivery and reshoring. Its cornerstone investor was Credit Suisse Asset Management, with co-investment from Edmond de Rothschild.
Theo Soeters, fund manager for EIREF at Edmond de Rothschild, said: “These additional capital commitments will allow the fund to grow and diversify into France while continuing investing in the Benelux and Germany. Our French team, recently strengthened by Kristelle Wauters, is well positioned to explore opportunities in the French industrial market. We expect the portfolio to reach €500 million during 2023”.
The fund benefits from the local experience and expertise of the Edmond de Rothschild REIM teams in the various countries, led by Onno Scheij in the Netherlands, Alfred Garbe in Germany and Kristelle Wauters in France. It has a core-plus risk profile and a portfolio of 27 assets, valued at €220 million, that is well diversified across different locations and tenants. Recently, the fund acquired assets in the Netherlands at Amsterdam's Schiphol Airport and Etten Leur, in Germany in the Hamburg region and Baden-Baden and in France a light industrial development south of Paris.
The Edmond de Rothschild Euro Industrial Real Estate Fund (EIREF) is exclusively reserved for professional investors and may be subject to restrictions for certain persons and in certain countries. The Fund does not guarantee or protect the capital invested, so that investors may not get back the full amount of their capital, originally invested even if their units are held for the recommended investment period. Any investment in the Fund is associated with certain risks, not limited to liquidity risk, concentration risk (investments in real estate) and currency risk. Any investment in the Fund may only be made on the basis of documents and information that comply with the applicable regulations.