PATRIZIA acquires EUR 59m Amsterdam logistics asset
Logistics offers attractive yields in comparison to other commercial assets
- 70,000 sq m, BREEAM-certified, state-of-the-art urban distribution centre
- Facility fully occupied by a single tenant on a long-term lease
- Acquisition increases PATRIZIA’s pan-European logistics AUM to EUR 400m
PATRIZIA Immobilien AG announces that it has acquired a new, state-of-the-art logistics facility at the port of Amsterdam for around EUR 59m from a Dutch developer on behalf of its open-ended ‘PATRIZIA Logistik-Invest Europa I’ alternative investment fund (AIF). The property will serve as an urban distribution centre in the Netherlands for a leading Dutch trading company who will occupy 100% of the facility on a long-term lease. Delivery of the facility is expected in January 2019.
As a result of this transaction, PATRIZIA’s logistics portfolio has grown to around EUR 400m across Europe, including assets in France, Belgium, the Netherlands and Germany.
Rob Brook, PATRIZIA’s Head of Logistics Investment, commented: “From the perspective of the institutional investor, the attractiveness of the logistics sector has increased considerably in recent years due to the high levels of demand for this type of space as retailers adapt to the disruption caused by ecommerce. In addition to this, the asset class offers attractive yields in comparison to other commercial assets such as offices and retail. Logistics as an asset class across Europe will continue to be a focus area for PATRIZIA going forward.”
This latest logistics acquisition comprises 70,000 sq m which can also be divided into three units of around 23,000 sq m each. In addition, it is BREEAM-certified due to the sustainability of its operations. The asset offers excellent connectivity through its location at the port of Amsterdam which places it in the heart of the second-largest port in the Netherlands and the fourth busiest port in Europe in terms of volume of cargo moved, whilst also being only ten minutes from Amsterdam’s city centre and Schiphol airport.
PATRIZIA Immobilien AG:
PATRIZIA Immobilien AG has been active as an investment manager in the real estate market across Europe for more than 30 years. PATRIZIA’s activities include the acquisition, management, repositioning and sale of residential and commercial real estate through its own licensed investment platforms. As a global partner for pan-European real estate investment, PATRIZIA operates as a respected business partner of large institutional investors and retail investors in all major European countries. PATRIZIA manages almost EUR 40 billion of real estate assets, primarily as an investment manager for insurance companies, pension fund institutions, sovereign funds, savings and cooperative banks and as co-investor. For further information, please visit: www.patrizia.ag.
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