Gulf Islamic Investments (GII), an investment company based in the UAE just announced its acquisition of nearly one million square feet of Amazon’s logistics centers for $144 million.
According to a statement made by the company, the two Grade A logistics centers which are located in Dortmund, Germany, serve as Amazon’s key logistics centers that supply goods to 29 other facilities. The company mentioned that the newly built facilities are leased out to Amazon on a long-term lease with regular rental uplifts linked to Germany CPI.
Mohammed Al-Hassan, co-founder, and CEO of GII commented on the new acquisition saying: “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,” he added.
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