Realogis holds €100m first close
Munich-based logistics property investment manager Realogis Real Estate has announced the €100 million ($114 million) first close of its debut fund, Realogis Real Estate Logistics Fund – Germany.
The Realogis Real Estate Logistics Fund – Germany has an equity fundraising target of €150 million ($171 million) and is planning a total investment volume of €250 million ($285 million). A final close is scheduled for the end of 2015.
The fund invests in new, modern logistics properties with the potential to be used by third parties in established locations across Germany. It also invests in existing properties in outstanding locations with a high potential for attracting long-term tenants. The German logistics fund is interested in acquiring assets early in their development phase as part of forward purchases or forward funding agreements. The targeted yield is more than 7 percent annually, for an initial term of 10 years.