Realogis Real Estate has raised 鈧�170 mln of equity for its Real Logistics Fund-Germany, completing fundraising for the vehicle.
Realogis Real Estate has raised 鈧�170 mln of equity for its Real Logistics Fund-Germany, completing fundraising for the vehicle.
With leverage the fund will have total spending power of 鈧�300 mln. The investors are insurance companies, pension funds, pension schemes and banks.
Launched in 2015, Realogis Real Logistics Fund-Germany invests in new and existing logistics properties in established locations that are suitable for third-party use, with a focus on offering maximum diversification across property sizes and age, locations and remaining terms of lease.
The fund targets an annual distribution yield of 7% over its lifetime, which is now expected to be about 10 years.
It has just acquired two assets in Germany for a total of 鈧�35 mln. They consist of a 22,000 m2 logistics centre in Osnabruck leased to toy manufacturer Vedes and the newly constructed 30,000 m2 Log Plaza Wankelstrasse in Kerpen. After these acquisitions, the fund has invested a total of 鈧�100 mln and is in exclusivity to acquire another five properties representing a total investment of 鈧�75 mln.
