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.
The Edmond de Rothschild Euro Industrial Real Estate Fund (EIREF) is exclusively reserved for professional and other well-informed investors as defined under Luxembourg law 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.