PGIM Real Estate has acquired a 106,236sqm logistics portfolio in the Netherlands from Dudok Real Estate.

The real estate manager has invested an undisclosed sum on behalf of its European core strategy to buy the portfolio of properties located in Rotterdam and Dordrecht.

Dominik Brambring, the head of Germany, Austria and the Netherlands at PGIM Real Estate, said: “The ongoing need for durable and efficient supply chains continue to drive resilient and sustainable cash flows at the asset level in logistics – whilst competition for scarce space in the major pan-European logistics corridors is going to carry on generating rental growth for last mile logistics assets.

“The properties will also benefit from the sustainable strong growth of imports and exports at the Port of Rotterdam and the persistent rise of e-commerce combined with ongoing investor appetite for the Dutch logistics sector. This acquisition demonstrates our continued focus on high conviction investment themes to leverage markets with strong growth potential.” 

PGIM Real Estate said it now manages four logistics properties in the Netherlands.

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