Amsterdam, January 2019 – Cording Real Estate Group, a member of the Edmond de Rothschild Real Estate Investment Management Platform, has acquired a portfolio comprising two light industrial assets and a small logistics property for the Cording Euro Industrial Real Estate Fund.
The properties have a total lettable area of around 10,500 sq m and are located near major gateways and transport axes in the Netherlands. The small logistics asset is located in Utrecht, alongside the A2 motorway. The light-industrial assets are located in Zwolle and Cuijk. The portfolio is fully let to
René de Heus, Head of Investment Benelux at Cording, commented: “The acquisition of these assets is a perfect addition to the fund’s existing portfolio. Due to their high quality, combined with their long lease terms and stable secured cash flows, this acquisition is in line with the fund’s initial portfolio strategy. We aim to acquire further industrial and logistics properties for the fund”.
Cording was advised by Van Doorne, SGS Search and Colliers International. The fund has a core plus risk profile and is aimed at institutional investors. The open-ended fund has been launched with equity commitments from Edmond de Rothschild and from a mandate managed by the multi-manager real estate team of Credit Suisse Asset Management, which was actively involved in the structuring of the fund, optimising it for institutional investors. It aims to deliver to its investors an average net income return of more than 6% per annum over a 10-year period.
The open-ended fund is domiciled in Luxembourg in the form of a FCP-RAIF. Pancura S.A. is the Alternative Investment Fund Manager and Aztec Group is the Central Administrator.
About Cording Real Estate Group Headquartered in London, Cording Real Estate Group is a European real estate business which provides vertically-integrated services covering investment management, asset management and property management.
Founded in 2008, Cording has grown significantly in its target markets of the UK, Germany and Benelux. It currently has around €2.5 billion of management mandates. Cording has 85 staff operating from five offices in Germany, one in the UK and one in the Netherlands. www.cordinggroup.com
About Edmond de Rothschild Real Estate Platform Edmond de Rothschild is an ambitious, independent family-run investment house which specialises in private banking and asset management. The Group has 150 billion euros in assets under management, 2,700 employees and 32 sites worldwide as of 31 December 2018.
Edmond de Rothschild Real Estate Investment Management platform operates through Local Operating Entities, including Orox Asset Management in Switzerland, Cleaveland in France, and Cording Real Estate Group in the UK, Benelux & Germany. The Edmond de Rothschild Real Estate investment management platform now includes over 140 real estate professionals people in 11 offices (6 countries) and manages around EUR 9 billion of real estate assets on behalf of discretionary funds and separated accounts.