Patrizia has invested about €65m to buy a two-asset Dutch logistics scheme from Next Level Development.

The manager said the first unit of the scheme in Veghel, completed in April, is a 25,929sqm asset and is let on a ten-year lease. The second unit, a 28,211sqm unit is scheduled to be completed by early 2021.

Alexander van Gastel of the Patrizia transactions team in The Netherlands, said: “This is an exciting, brand new asset that meets the growing demand for high-quality logistics space in the region.

“Logistics has recently proven to be one of the most resilient real estate sectors. COVID-19 has accelerated existing e-commerce trends and so we are confident this asset will deliver long term secure income to our investors.”

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