Gulf Islamic Investments LLC (GII), a UAE based Islamic financial services company, announced the acquisition of nearly one million square feet of logistics centers for Amazon, on behalf of its investors, for $144 million. Rasmala acted as a strategic co-adviser and co-investor on this acquisition assisting on all aspects of the acquisition.
The two state-of-the-art Grade A logistics centers, which are located in Dortmund, Germany, serves as Amazon’s key logistics centers supplying goods to 29 other facilities.
These newly built facilities are leased out to Amazon on a long-term unbreakable lease with regular rental uplifts linked to Germany CPI.
Mohammed Al-Hassan, GII co-founder/CEO said: “GII’s real estate investment strategy is to have an exposure to good yielding commercial assets with investment grade tenants. We believe this transaction perfectly matches our investment strategy.”
“Dortmund offers a strategic location for a high-growth market and is one of the most important logistics hubs in whole Europe. Germany also produces about one-quarter of the EU’s GDP, with investment safety rates and remarkable returns.”
Al-Hassan confirmed that GII plans to keep acquiring high quality income yielding real estate assets in the US, the UK and Germany, and to invest selectively in attractive value-add development opportunities in the GCC region.
Pankaj Gupta, the co-CEO of GII added: “The property marks the 5th international real estate asset acquired by GII in the last 2 years and the first in Germany. We see this transaction as an extremely suitable investment for our clients in these challenging investment environment as it not only gives a high single digit cash-on-cash yield but also very strong lease covenants with a marquee tenant like Amazon in a stable geography like Germany. The investment further establishes GII capabilities of providing whole value-chain services and hence offering best in class opportunities.
After this transaction, the total investment of GII in the European market crossed $500 million, while the value of the investment portfolio exceeded $1.3 billion.
The two state-of-the-art Grade A logistics centers, which are located in Dortmund, Germany, serves as Amazon’s key logistics centers supplying goods to 29 other facilities.
These newly built facilities are leased out to Amazon on a long-term unbreakable lease with regular rental uplifts linked to Germany CPI.
Mohammed Al-Hassan, GII co-founder/CEO said: “GII’s real estate investment strategy is to have an exposure to good yielding commercial assets with investment grade tenants. We believe this transaction perfectly matches our investment strategy.”
“Dortmund offers a strategic location for a high-growth market and is one of the most important logistics hubs in whole Europe. Germany also produces about one-quarter of the EU’s GDP, with investment safety rates and remarkable returns.”
Al-Hassan confirmed that GII plans to keep acquiring high quality income yielding real estate assets in the US, the UK and Germany, and to invest selectively in attractive value-add development opportunities in the GCC region.
Pankaj Gupta, the co-CEO of GII added: “The property marks the 5th international real estate asset acquired by GII in the last 2 years and the first in Germany. We see this transaction as an extremely suitable investment for our clients in these challenging investment environment as it not only gives a high single digit cash-on-cash yield but also very strong lease covenants with a marquee tenant like Amazon in a stable geography like Germany. The investment further establishes GII capabilities of providing whole value-chain services and hence offering best in class opportunities.
After this transaction, the total investment of GII in the European market crossed $500 million, while the value of the investment portfolio exceeded $1.3 billion.
