Edmond de Rothschild Real Estate Investment Management (Edmond de Rothschild REIM) has acquired two commercial properties in Germany for its Edmond de Rothschild Euro Industrial Real Estate Fund (EIREF).
The first, in Baden-Baden, at Flugstrasse 8, 10, and 10a, was handed over on 31 December 2021. A 12,300 square metre light industrial property, built in 2005/2010, it has a WALT of 3.1 years. The vendor was the Munitor Group. The deal was brokered by Laren Consulting.
The other property acquired is in Elmenhorst, near Hamburg, at Kesselflickerstrasse 12. A small-scale logistics hall, with 8,200 square metres of space, it was completed in 2001. It has a WALT of 2.5 years. The vendor of this property was the Vivet Capital group. JLL acted as advisor in the transaction.
Alfred Garbe, Head of Germany at Edmond de Rothschild REIM, explains: “We plan to continue making acquisitions for the fund in 2022, particularly in Germany, and we are already considering further offers for this. Competition for attractive warehouses, light industrial properties and distribution centres is increasing. This asset class reached its highest transaction volume ever in Germany in 2021.”
Read the full press release at the link below