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Germany’s DIC Asset launches €400m logistics property fund

[Photo: Hannes Egler/Unsplash]

Listed German property company DIC Asset has launched a logistics property fund in cooperation with its recently acquired subsidiary RLI Investors.

The open-ended special AIF, RLI-GEG Logistics & Light Industrial III, is aiming for a total investment volume of €400 million and is planning for the fund to mature in 10 to 12 years. The targeted annual distribution is 4.5% to 5%.

In addition to classic profitable logistics real estate, the fund will invest in light industrial and urban logistics property in Germany, Benelux and Austria, which will mark DIC Asset’s first investments abroad.

“We are demonstrating here how exceptionally well the competencies of RLI Investors complement our management platform. The fact that we went to the market with this product within just a few weeks of integrating RLI Investors makes it clear what we mean by ‘dynamic performance’,” said DIC Asset CEO Sonja Wärntges.

Aimed at professional institutional investors wishing to diversify their portfolios with investment opportunities that exceed current low interest rates, the fund has been seeded with four logistics assets in Germany with a combined value of about €132 million.

Other properties are in due diligence and include standing properties and new-build units, portfolios as well as property developments with high alternative use potential. The acquisition volume per asset ranges from €15 million to €75 million. The special AIF is expected to reach its target volume within a three-year period.

Hansainvest will administrate the fund.