PATRIZIA acquires state-of-the-art Dutch logistics facility
Netherlands logistics market characterised by limited supply and increasing demand.
- Located in Waalwijk, in the Dutch southern logistics corridor
- 57,000 sq m leased to Magna Tyres Group
Augsburg, 17 April 2019. PATRIZIA Immobilien AG, the global partner for pan-European real estate investment, has agreed to purchase a state-of-the-art, 57,000 sq m logistics property in Waalwijk in the south of the Netherlands. The acquisition was made on behalf of PATRIZIA Logistik-Invest Europa II from Magna Tyres Group in a sale and leaseback transaction. Delivery is expected in November 2019.
The brand-new property is built to a BREEAM ‘Excellent’ standard and is located at the Haven 8 business area in the Netherlands’ southern logistics corridor, benefitting from good connectivity with the rest of continental Europe. It is around an hour’s drive from the ports of Rotterdam and Antwerp, over the border in Belgium, and it less than two hour’s drive from the German city of Düsseldorf.
Emile Poort, Head of Transactions Benelux at PATRIZIA, commented: “This property is another high-quality asset that underlines PATRIZIA’s continued interest in the pan-European logistics market, particularly the Netherlands, which is characterised by a limited supply of high-quality, modern warehouse space and increasing demand. It is this demand that will fuel favourable contractual terms and rental growth, and that means value growth for our clients.”
This acquisition follows the recent purchase of a ‘cross-dock’ logistics portfolio in Germany, also for Logistik-Invest Europa II, which has a target volume of EUR 700 million. Across Europe, PATRIZIA manages almost EUR 2 billion of logistics assets.
PATRIZIA Immobilien AG:
PATRIZIA Immobilien AG has been active as an investment manager in the real estate market across Europe for more than 35 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 more than 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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