TH Real Estate’s European Logistics Fund (ELOF) has bought its second logistics asset in the Netherlands.
Cording Real Estate Group advised TH Real Estate on the acquisition of the logistics property in Rotterdam.
Cording, the Northern European real estate investment firm, said it will also be responsible for the asset management.
The vendor, which is also the occupier, is selling the property in a sale and long-term leaseback transaction.
No financial details were disclosed.
The property comprises two buildings, dating from 2008 and 2016. It has a total lettable area of 39,500sqm, most of which is laid out for the storage of hazardous goods.
Bram Dekkers, an associate director at Cording’s investment logistics in Benelux, said: “We are very pleased with the purchase of the second logistics property for the ELOF in the Netherlands.
“The purchase of this high-quality logistics property demonstrates how successfully our Amsterdam-based acquisition team can operate in a highly competitive market. We intend to acquire further logistics properties for our clients during 2018.”
James Ellis, an investment manager at TH Real Estate, said: “This key acquisition in Europe’s largest port is well aligned to the fund strategy as we continue to strengthen our investment exposure across established logistics regions with sustainable demand drivers.
”With tight zoning regulations for ADR [hazardous goods] storage, there is a strong demand from a diverse global customer base, making the tenant a very attractive 3PL provider. This further underpins our strategy of seeking long-term stable income security.“
ELOF is an open-end special AIF, investing in core European logistics properties with a primary focus on the Netherlands, France, Italy and Spain.
The fund is also open to investments in Belgium, Germany, Portugal, Denmark, Norway, Sweden, Finland, Austria and the Czech Republic.