Delin Property has added sites in the Netherlands and Spain to its portfolio as the European logistics specialist moves towards a partner-led strategy.
Delin has acquired two in Madrid and one in Uithoorn, with a combined estimated gross development value of €44m. The projects are expected to add 25,400sqm of lettable space to the firm’s wholly-owned portfolio upon completion.
Delin said the acquisitions complemented its 540,000sqm of assets overseen by the company, which are held through a mix of whole ownership, joint ventures and institutional fund structures.
Delin Property said its return to balance-sheet investing follows a leadership restructuring, led by the promotion of Duncan Jarvis, Raffi Killian, Nick Martin and Isaac Núñez to partners.
The four executives now comprise the firm’s new management committee, which coordinates decisions with the board while maintaining oversight of their individual departments. The transition comes as Tom Wattles steps down as CEO to return to the US.
Igor Linshits, Delin Property’s founder, said: “These latest investments reflect the ambitions of our dynamic, entrepreneurial senior leadership team to grow Delin Property’s footprint in Europe through our own investments and in partnership with institutional clients.”
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