UBS raises €150m for German logistics, plans European fund

Munich-based asset manager UBS Real Estate has raised €150 mln of equity from institutional investors for its second logistics fund.

Launched in June 2012, the UBS (D) German Logistics Property Fund 2 invests exclusively in German logistics properties in established locations and with long-term leases.

Since its establishment, the fund has generated an annual yield of 10.1%.

'Demand from institutional investors for investment products with stable, high-dividend yield remains high,' the company said in a statement, adding that a further fund is on the cards.

'UBS plans to expand the range of logistics products with a European logistics investment fund and it also intends to launch a special fund for German retail properties,' it added. Financial details were not disclosed.