Gulf Islamic Investments buys Amazon’s logistics centres for US$114mn

GIIGulf Islamic Investments (GII), the UAE-based Islamic financial services company, has acquired Amazon’s logistics centres covering an area of about one million square feet for US$144mn

Rasmala has acted as a strategic co-advisor & co-investor on this acquisition assisting on all aspects of it.

The two state-of-the-art Grade A logistics centres, located in Dortmund Germany, serve as Amazon’s key logistics centres supplying goods to 29 other facilities.

The newly built facilities are leased out to Amazon on a long-term unbreakable lease with regular rental uplifts linked to Germany CPI. 

GII CEO Mohammed Al-Hassan 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.”

Alhassan added, “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.” 

Alhassan confirmed that GII plans to keep acquiring high-quality income yielding real estate assets in the USA, the UK and Germany and to invest selectively in attractive value-add development opportunities in the GCC region.

Pankaj Gupta, Co-CEO of GII, stated, “The property marks the fifth international real estate asset acquired by GII 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. The investment further establishes GII capabilities of providing whole value-chain services and offering best-in-class opportunities.

After this transaction, the total investment of GII in European market crossed US$500mn, while the value of the investment portfolio exceeded US$1.3bn.

Gulf Islamic Investments (GII) is a UAE-based financial services company regulated by the Emirates Securities and Commodities Authority (ESCA).

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