Edmond de Rothschild’s core-plus European industrial property fund has bought it first German asset.

The Edmond de Rothschild Euro Industrial Real Estate Fund (EIREF) has invested an undisclosed amount to buy the 9,500sqm asset in Worms, in Rhineland-Palatinate in a sale and leaseback deal. The property, which sits on an 18,700sqm site, is let to a single tenant.

Felix Lorenz, investment manager of the Edmond de Rothschild REIM in Frankfurt, said: “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 open-ended fund’s objective is to enlarge the fund from its present €110m to at least €250m.

To read the digital edition of the latest IPE Real Assets magazine click here.

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