Clarion Gramercy has acquired nine assets in the Netherlands, in three separate transactions, for a total consideration of €100m.
The company said it bought a 78,523sqm portfolio of three logistics facilities from a private vendor, which comprises: two warehouses in Tilburg, leased to a Dutch 3PL and a garden furniture manufacturer; and one in Rotterdam, leased to a grocery retailer.
Gramercy also acquired a 44,000sqm portfolio of five warehouse properties, via sale and leaseback, consisting of three operating properties in Katwijk and two developments in Katwijk and neighbouring Haps, that will be delivered turnkey in December 2019 and July 2020.
In a third transaction, Gramercy has bought, also by way of a sale and leaseback deal, a 20,132sqm warehouse from FM Tyres.
Rory Buck, a senior director of Clarion Gramercy, said: “We continue to grow our logistics exposure in the Netherlands, with the strong performance of the domestic economy underpinning the e-commerce sector’s upward trajectory.
“Whilst we are seeing growing competition from investors seeking to benefit from the strong rental growth that is forecast in certain pockets of Western Europe, we are well placed, as these acquisitions demonstrate, to source and acquire a diverse range of logistics properties, maintaining both our enviable rate of deploying available proceeds and our signficant outperformance.”
The acquisitions are the first transactions following the acquisition of Gramercy Europe by Clarion Partners in April this year.
