NW1 Partners and URBZ Capital’s Dutch industrial outdoor storage (IOS) fund has secured €192m at final close with the participation of CBRE Investment Management’s indirect strategies business.
As the final investor in the Dutch IOS vehicle, CBRE IM has joined the fund expected to acquire low-density industrial assets within established industrial areas and logistics routes across the Netherlands.
The partnership between NW1 and URBZ has already invested €130m invested in IOS assets the Netherlands.
Ali Nassiri and Bram Verhoeven, managing partners at URBZ, said: “With over €130m of assets already acquired, we are well positioned to continue capitalising on the compelling early-mover opportunity in the Netherlands.”
David Boyle, managing partner at NW1, said: “We are delighted to welcome CBRE IM as an additional sophisticated investor in our Dutch IOS vehicle. Their commitment underscores the strength of our investment strategy and the compelling opportunity to build one of the first Dutch IOS portfolios of scale.”
Max Fabre, director at CBRE IM indirect strategies, said: “We are excited to gain exposure to reversionary IOS properties in strategic locations in the Netherlands, and to provide growth capital to further scale the portfolio.
“We have strong conviction that the sector will continue to mature, and that the vehicle and our strategic partners are best positioned to create value for our capital sources.”
Kilian Toms, managing director of real estate secondaries at CBRE IM indirect strategies, said: “We are confident that this investment will generate strong returns for our investors by capitalising on the early-mover advantage in the Dutch IOS market and the robust demand for industrial outdoor storage.
“Partnering with NW1 and URBZ, who have a strong performance track record, we are looking forward to executing the strategy.”
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