German logistics specialist RLI Investors (RLI) has acquired a logistics complex in North Rhine-Westphalia for €40 mln from German owner-operator Casaplan Group.
The 14,300 m2 property was purchased for the open-ended real estate special alternative investment fund RLI Logistics Fund - Germany I.
'Take the location, building quality, or tenancy situation – all key aspects of the property are premium, and we are very pleased to have secured this asset for our investors,' commented Bodo Hollung, managing director of RLI. 'It is another demonstration of our strong transaction performance as one of the biggest investors on the German logistics real estate market at this time.'
The property, which was expanded and modernised in 2016, is let long term to parcel service provider Hermes Germany. It is located on a trading estate within the city limits of Hückelhoven.
'The fourth quarter of 2016 was very dynamic for us, and we expect things to continue along the same lines this year,' added Hollung. 'We completed several other acquisitions, have the next transactions in the pipeline, and will have more to report on these shortly.'
The transaction was brokered by BNP Paribas Real Estate.
