Aberdeen Standard fund acquires €31.7m Dutch logistics development
Aberdeen Standard Investments’ European property growth fund (EPGF) has added a €31.7m Dutch logistics development to its portfolio.
The manager said the EPGF fund will forward fund the new 43,000sqm distribution centre in Venlo, the Netherlands. EPGF will buy the property at Trade Port Noord business park from H van den Boogaard Projects.
Construction is underway, with completion expected in the fourth quarter of this year.
The latest deal is the fund’s third logistics development in the Netherlands, taking EPGF’s investments in the Dutch market to over €160m.
The completed centre will deliver a total of 39,100sqm of logistics accommodation, a 2,760sqm mezzanine, 1,100sqm of office space, and parking for 175 cars.
Veronica Gallo-Alvarez, Fund Manager at Aberdeen Standard Investments, said: “This investment meets our strategic objective to focus on well-located, logistics assets in core European markets with potential for value uplift and income producing over the medium-term.
It enhances the opportunity for EPGF to capitalise on the continuing trend of e-commerce expansion, which is re-shaping the logistics sector across Europe.”