London-listed Segro has invested €222m to acquire three fully-leased logistics warehouses in the Netherlands in separate transactions.
The European industrial and urban warehouse real estate investment trust said it has acquired a 172,300sqm logistics estate in Eindhoven from Nuveen; a 37,800sqm asset in Heerlen in the De Beitel industrial estate from VolkerWessels & Vestum; and a 36,500sqm logistics warehouse in the Vossenberg industrial estate in Tilburg from Abrdn.
The assets currently generate around €10m of headline rent, which Segro said will almost double the headline rent attributed to the share of its portfolio in the Netherlands.
They also offer a significant amount of reversionary potential, Segro added.
Eelco Ouwerkerk, head of the Netherlands at Segro, said: “These warehouses are in some of the most attractive and supply-constrained industrial and logistics markets in The Netherlands.
“The acquisitions are a very positive step forward in the delivery of our plan to build scale in this important region, adding three high quality assets with reversionary potential and significantly increasing the size of our Dutch portfolio.”
Marco Simonetti, managing director, continental Europe at Segro, said: “We have been able to leverage our market-leading operating platform and strong local networks to create these opportunities and profitably deploy some of the capital raised in our recent equity placing, at a time when investment markets show signs of stabilisation and the supply of new sustainable warehousing remains constrained.”
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