RLI Investors has announced the purchase of an industrial property situated 20 kilometres west of Darmstadt in Germany, on behalf of its Logistics Fund. The price was €36 mln.
Completed in 2000, the building stands on a 58,650 m2 site and provides 35,700 m2 of total space, including 3,900 m2 of office accommodation.
Katrin Poos, managing director of RLI Investors said: 'The property is a very good complement to the fund portfolio. Situated in one of the most efficient logistics regions in Germany, with a 24-hour operation and good adaptability, the property is suitable for a wide range of potential occupiers.'
Commercial agent Joachimsthaler advised RLI on the transaction. Görg Rechtsanwalte carried out the legal and tax due diligence.