#Gulf #Islamic #Investments acquires two logistics facilities

The Gulf Islamic Investments, a Islamic financial services company based in the UAE, has revealed the acquisition of nearly one million square feet of logistics facilities on behalf of its investors, at the price of 144 million US-Dollar. The two state of the art logistics centres, are located in Dortmund Germany, and serves as key logistics centre of Amazon supplying goods to 29 other facilities. These newly built facilities are leased out to Amazon on a long-term lease that cannot be cancelled with regular rental uplifts linked to Germany CPI.

Rasmala, an independent investment management group, has acted as a strategic co-advisor and co-investor on this acquisition assisting on all aspects of it. Mohammed Al-Hassan, CEO, GII, said: “Our company’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 said. He further confirmed that GII plans to keep acquiring high quality income yielding real estate assets in US, UK and Germany and to invest selectively in attractive value-add development opportunities in the GCC region.
Pankaj Gupta, co-CEO of GII, added: “The property marks the 5th international real estate asset acquired by our company in the last two 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,” he said.

After this transaction, the total investment of GII in European market crossed 500 million US-Dollar, while the value of the investment portfolio exceeded 1.3 billion US-Dollar.