Pan-European investor Bowery and real estate investor Alba join forces to acquire their first last-mile logistics asset in the Netherlands.
Their first joint acquisition in the Dutch market was made on behalf of an institutional investor for an undisclosed sum.
The 28,000 m2 property in Best near Eindhoven, includes 75 dock doors and truck access from both sides. It is currently available for lease to businesses seeking efficient logistics solutions in the region.
The two partners will collaborate on a comprehensive refurbishment project, leveraging Alba's local expertise to improve the property's appeal and functionality for potential tenants. The project will focus on flexibility to accommodate various leasing needs and space configurations.
This successful collaboration marks the beginning of Bowery and Alba's plans for further growth in the Netherlands' logistics real estate market.
The purchase of the Dutch logistics asset expands the Voyage portfolio's European footprint, following entries into France (2022) and Germany (2023). The JV between Bowery and alternative asset investor King Street consists of 10 last-mile urban logistics assets across five markets.
Voyage seeks to address an undersupply in the target regions and capture market rental uplift through proactive asset management and refurbishment with a focus on improving the real estate ESG credentials.
