AEW Europe acquires first Dutch asset for Logistis in €40m deal

AEW Europe has acquired DC Helmond, a group of three grade A logistics properties totalling 50,000 m2 in the southern Dutch city of Helmond.

The properties were purchased from District54, the development business of Van Berlo Vastgoed, for €40 mln, representing a gross acquisition yield of 6.9%. They are earmarked for the group's Logistis Fund.

DC Helmond comprises three warehouses of 18,000 m2, 17,000 m2 and 15,000 m2 developed in 2004, 2006 and 2013 respectively, all of which are fully let to Schneider Electric with a minimum lease term of five years.

Located 15 km from the city of Eindhoven, Helmond is Schneider Electric’s key logistics hub serving the EMEA region.

In addition, AEW Europe has secured a development agreement with the vendor, which developed the existing assets for Schneider Electric, with the option to extend DC Helmond.

The transaction represents Logistis’ first acquisition in The Netherlands and brings the total investment by Logistis to over €400 mln in 2015.

'The income stream provided by the existing assets, together with the development potential at DC Helmond and elsewhere with District54, makes this transaction a highly attractive investment opportunity,' said Remy Vertupier, fund manager for AEW Europe Logistis. 'We have a strong pipeline of prospective deals in place and we expect to announce further acquisitions in the coming weeks and months as we continue to deploy the capital available to us.'

AEW Europe and District54 were advised by JLL.