Fidelity International has acquired a brand new 34,000sqm logistics property in Oosterhout for its FidelityEurozone Select Real Estate Fund.
The property is leased long-term to a German supermarket chain. The site is part of a strategic logistics hub located between the ports of Rotterdam and Antwerp and is just 300m from the inland container terminal in Oosterhout, the manager said.
The property meets the “highest technical and ESG standards”, with a BREEAM Excellent certificate and EPC A+++ according to people involved in the transaction.
Fidelity added that this acquisition strengthens the presence of high-quality core assets in top markets in continental Europe and ”fits perfectly with the strategy to acquire high-performing properties with an excellent ESG profile with strong tenants that provide stable long-term cash flow”.
Maarten Frouws, portfolio manager at Fidelity International, said: “The long-term lease with a strong tenant makes this a defensive investment that fits well with the fund’s investment strategy. It offers our investors a strong and stable income return and potential capital appreciation in the future.”
“The Dutch logistics property market in general, and prime hotspots in particular, are highly sought after by investors. This property with the highest ESG credentials is excellently located.”
The acquisition is the second major logistics investment the fund has made in recent months, having recently acquired modern logistics real estate with an area of 32,000sqm in Erfurt in central Germany.
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