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Thu 5 Dec 2019 03:35 PM

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Dubai-based Rasmala sells major logistics facilities in Germany for $155m

Exit generated a total return of 30 percent in two years for investors

Dubai-based Rasmala sells major logistics facilities in Germany for $155m

Gulf Islamic Investments were co-investment advisers on the Amazon transaction, which was based on assets in the new Dortmund logistics park in Germany.

Rasmala Investment Bank Limited, an alternative investment manager, has announced the sale of two Amazon logistics assets in Dortmund for $155 million.

Gulf Islamic Investments were co-investment advisers on the Amazon transaction, which was based on assets in the new Dortmund logistics park in Germany.

A statement said Rasmala, which was established in 1999 and is based in Dubai International Financial Centre (DIFC), will retain its investment in another logistics centre let to a subsidiary of sports goods retailer Decathlon.

Eric Swats, senior executive officer at Rasmala, said: “Our real estate business continues to expand and we are currently acquiring new assets in Europe and the United States. We have successfully exited this investment and will generate significant returns for our investors.”

The exit generated a total return of 30 percent in two years for investors.

Naseer Aka, head of real estate at Rasmala, added: “We have seen a fantastic return on our investment in a short time period. In a very competitive environment, we maintain a proprietary deal flow and are able to underwrite transactions.”