Patrizia has bought a new logistics asset the Netherlands for €10.5m from MG Real Estate.

The manager said it acquired the asset in Oud Gastel, Roosendaal on behalf of its open-ended Logistik-Invest Europa II fund.

The asset, which comprises a total floor area of 11,225sqm is fully let on a long-term lease to Yusen Logistics.

Patrizia - which has in total invested around €1.8bn in major logistics assets in Europe said it expects to further increase its activities for its global investor base in this asset class.

Emile Poort, the head of transactions in Benelux, said: “This acquisition demonstrates the fund’s continued interest in the Dutch logistics market, where investment yields remain attractive.

“This market is characterised by a limited supply of high quality, modern warehouse space and high demand from logistics providers due to the growth of e-commerce. This asset is in an established logistics hub offering access to Europe’s largest ports and offers long-term sustainable income for our investors.”