Europa Capital and ARC Real Estate Partners have added a portfolio of five multi-let light industrial estates to the Dutch light industrial platform set up by Europa’s fifth value-add fund.
The companies said they have bought the portfolio, which totals 75,000sqm across eight buildings, from Altera Vastgoed.
The properties are all situated in Amsterdam, Bleiswijk and Lijnden in Randstad, as well as Best and Son en Breugel near Eindhoven.
The latest deal represents Dutch Light-Industrial Platform’s (DULIP) fourth transaction since March, this acquisition increases the number of assets in the platform to 31 and lifts its managed assets to over €100m.
DULIP, which is managed by Europa Capital’s local partner ARC, targets investments in locations where there is strong occupational demand for light industrial space due to the rise of e-commerce and businesses looking to locate close to major urban areas.
James Fortescue, partner at Europa Capital, said this latest acquisition presented an opportunity for DULIP to expand its portfolio of well-located industrial real estate, with all of these assets close to key urban centres and accessible via major European transport infrastructure.
“The Netherlands has an open and robust economy, with the industrial subsector flourishing alongside the proliferation of smaller businesses and growth of online retailing, as well as the growing demand from consumers for ‘last mile’ deliveries.
“Our strategy is to invest additional equity into these properties through a programme of active asset management to enhance these assets for occupiers, thereby reducing vacancy and increasing rental income to deliver further improved returns to our investors.”
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