CBRE Investment Management has invested an undisclosed sum to the Ghent Logistic Campus, an acquisition the investment firm said represents the largest single asset logistics deal for the Belgium market.
The global real assets investment management firm said it has bought the 150,000sqm logistics warehouse complex in Ghent via a sale-and-leaseback transaction from Heylen Warehouses.
Piet van Poppel, country manager Belgium at CBRE Investment Management, said: “This was a rare opportunity to acquire a high-quality logistics campus in Belgium – a market that is highly sought after by international investors due to its strong fundamentals but remains difficult to access due to the high level of domestic investment.
“Ghent Logistic Campus is already located in a key multimodal hotspot and its appeal is set to increase further following the completion of key infrastructure works and as part of the broader shift to water and train transportation.”
Ralph Caspanni, CEO Heylen Warehouses, said: “After our exponential growth in the Netherlands, we noticed an increasing demand for logistic warehouses in Belgium.
“With the development of the Ghent Logistic Campus, Heylen Warehouses will be able to fulfil the demand for large flexible warehouse space and support the further economic development of the Ghent Region.”
To read the digital edition of the latest IPE Real Assets magazine click here.