The Edmond de Rothschild Euro Industrial Real Estate Fund (EIREF) has purchased an urban logistics property in Marconistrasse 4-8 in Cologne, in North Rhine-Westphalia. The property is located in an established industrial and logistics area, next to an Amazon distribution centre.
The property provides 9,600 sqm of lettable area of which 9,000 sqm are storage and 600 sqm are office space. Standing on an 14,000 sqm site, it is fully let to a single tenant active in B2B wood trading. The transaction was sourced directly from the vendor without the involvement of a broker. The purchase was handled by Edmond de Rothschild REIM’s German team.
“This is the Fund’s second acquisition in Germany, following the purchase of an industrial property in Worms earlier this year. More transactions are expected to follow shortly as we want to further expand the Fund’s portfolio in Germany,” said Felix Lorenz, Investment manager at the Edmond de Rothschild REIM in Frankfurt.
