German logistics specialist RLI Investors has started the placement and investment phase for the RLI Logistics Fund – Germany II.
After first subscriptions by institutional investors of around €100 mln and the first closing, RLI has announced the beginning of the investment phase.
'We are delighted with the trust investors have placed in the RLI Logistics Fund – Germany I, which is fully invested. It has encouraged us to launch a second fund,' commented Sophie Schweimer, fund manager at RLI. 'The product targets both existing and new investors. Our extensive network, our many years of experience and our strong expertise enable us to identify attractive buying opportunities and secure properties for the fund including in tight markets.'
According to the firm, the open-ended segregated real estate fund will invest in a diversified portfolio of logistics properties in Germany and targets an investment volume of circa €350 to €400 mln. It has a term of ten years and a targeted annual distribution yield of 6.75%.
Under its core-plus strategy, the fund will buy industrial, retail and e-commerce logistics properties in good and prime locations across Germany over the coming months. This will include acquiring properties at the start of the development stage via forward purchase and forward funding agreements.
'Our property pipeline is well-filled. We are currently examining promising offers of diverse objects at top locations in Germany which conform exactly to our fund strategy,' concluded Peter Wenzel, investment manager at RLI.
