RLI Investors hits €1b assets, plans new ‘last-mile’ German fund
RLI Investors (RLI) has acquired 11 logistics properties valued at €156 million ($168 million) for its open-end special logistics real estate fund, RLI Logistics Fund – Germany II, as of the end of 2019.
Located in Berlin, Rhine-Main, Leipzig and Munster/Osnabruck, major logistics regions in Germany, some of the properties were acquired in off-market deals. Among these were three development projects with 39,000 square meters (419,792 square feet) of new construction.
RLI said the properties are let on long leases to top covenants, including CEP service providers and contract logistics companies.
By the end of the year, the company had increased its logistics property and fund assets under management by almost 24 percent, surpassing €1 billion ($1.08 billion) and a total lettable area of 1.26 million square meters (1.4 milli