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Gulf Islamic Investments acquires $144m Amazon centre in Germany

Gulf Islamic Investments acquires $144m Amazon centre in Germany

Mubasher: Gulf Islamic Investments (GII), an Islamic financial services company based in the UAE, has acquired nearly one million square feet of logistics centres for Amazon in Germany.

This takeover deal was valued at $144 million, with Rasmala acting as a strategic co-advisor and co-investor on this acquisition assisting on all aspects of it, according to a statement on Tuesday.

“The two states of the art Grade A logistics centres, are located in Dortmund Germany, serves as Amazon’s key logistics centres supplying goods to 29 other facilities,” the statement added.

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

Following this transaction, investments of GII in the European market exceeded $500 million, while the value of the investment portfolio crossed $1.3 billion.

Co- founder and CEO of GII Mohammed Al Hassan, commented, “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 GII’s plans to keep acquiring high quality income-yielding real estate assets in the US, the UK, and Germany, as well as investing selectively in attractive value-add development opportunities across the GCC region.

The CO-CEO of GII Pankaj Gupta, said, “The property marks the 5th international real estate asset acquired by GII in the last 2 years and the first in Germany.”