Realogis Real Estate, the Munich-based logistics property investment manager, has held a €100 million first close on its debut fund – Realogis Real Estate Logistics Fund-Germany.
The logistics specialist secured commitments from insurance companies, pension funds, and German public banks. The firm is aiming to collect €150 million for the fund by the end of the year, and plans to invest the vehicle in its entirety by mid-2016 before attempting to raise a successor fund.
Realogis will invest in German logistics properties as well as acquiring logistics projects early in their development phase as part of forward purchases or forward funding agreements.
“We currently have more than 20 properties worth around €275 million in the pipeline. Investors appreciate our portfolio strategy, which is based on wide diversification in terms of property size as well as age, location and lease duration,” commented Bodo Hollung, managing director of Realogis.
Realogis has yet to make an acquisition from the fund but Hollung added that the firm currently has exclusivity agreements on five properties which would see the firm deploy around €75 million if the transactions complete.