Aviva Investors, the global asset management business of Aviva, has completed the purchase of a warehouse in Eindhoven, on behalf of its clients. The building was acquired from German real estate investment manager, Union Investment for an undisclosed sum.
The warehouse, which comprises more than 64,000 m2 of storage space, is located within the goods distributions centre 'Acht' of Eindhoven, a key logistics market.
George Fraser-Harding, fund manager, real estate at Aviva Investors said: 'We are delighted to complete this acquisition, with the low site coverage and short lease lengths offering asset management opportunities in what we believe is a strong sector and location.
'Eindhoven is well positioned in the centre of the country between the ports of Rotterdam and Antwerp and the Ruhr Valley, and therefore provides good opportunities for national and pan-European logistics. The deal is in-line with our desire to invest in strategically important locations and that continue to build a strong and resilient European logistics portfolio.'
The facility is situated close to both the A2 and A67 motorways and the city’s international airport, whilst also lying adjacent to one of the main railroad arteries which provides direct access to Rotterdam harbour.
The acquisition further expands Aviva Investors’ portfolio of logistics assets in the Netherlands, including a recently developed 20,000 m2 warehouse in Berkel en Rodenrijs and a 40,000 m2 warehouse within the port of Rotterdam. The asset manager also manages a number of office buildings in Amsterdam.
Aviva Investors was advised by M2 Real Estate, DLA Piper and Search. Union Investment was advised by Savills, 3Stone Real Estate, Freshfields and Drees & Sommer.
