PATRIZIA increases its EUR 1.8 billion logistics portfolio
Acquisition of a EUR 10.5m logistics asset in the Netherlands.
- 11,225 sq m, state-of-the-art logistics facility
- Fully let on a long-term lease to Yusen Logistics Co. Ltd.
- Located in an established logistics hub offering strong transport connectivity
Augsburg, 16 October 2018. PATRIZIA Immobilien AG announces that it has acquired a new, state-of-the-art logistics asset in Oud Gastel, Roosendaal, the Netherlands for circa EUR 10.5 million from MG Real Estate on behalf of its open-ended ‘PATRIZIA Logistik-Invest Europa II fund. PATRIZIA has in total invested approx. EUR 1.8 billion in major logistics assets in Europe and expects to further increase its activities for its global investor base in this asset class.
Emile Poort, Head of Transactions Benelux, commented: “This acquisition demonstrates the fund’s continued interest in the Dutch logistics market, where investment yields remain attractive. This market is characterised by a limited supply of high quality, modern warehouse space and high demand from logistics providers due to the growth of e-commerce. This asset is in an established logistics hub offering access to Europe’s largest ports and offers long term sustainable income for our investors.”
The asset, which comprises a total floor area of 11,225 sq m and is state-of-the-art LED certified including cold ambient storage, is fully let on a long-term lease to Yusen Logistics Co., which uses the facility as a distribution centre for its freight and truck transportation business, as well as for its marine shipping brokerage business.
Located on Borghwerf II business park, where other occupiers include CEVA and DHL, the asset is in Noord-Brabant province adjacent to the A-17 motorway, an established logistics corridor for the south west of the Netherlands and Belgium, including the route running from the ports of Rotterdam and Antwerp eastward.
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 to 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.
Group Head of Corporate Communications
Phone: +49 (0) 821 5 09 10-6 55