Catella Real Estate has acquired a recently completed logistics warehouse in the southeastern Netherlands on behalf of its Catella Logistik Deutschland Plus (CLD+) Fund.
The purchase is the fund’s 11th to date and marks the second acquisition in the Netherlands. Financial details were not disclosed.
Located in the town of Haelen, near the city of Roermond in the province of Limburg and close to the German border, the 16,065 m² property was acquired from Dutch fulfillment company Dimass Group in a deal structured as a sale-and-leaseback forward purchase.
Dimass, which specialises in e-commerce supply chain solutions, will occupy 100% of the property on a long-term triple net lease. The warehouse was developed by Unibouw on a 36,780 m² site in the 48-hectare multifunctional Zevenellen industrial park.
The asset features a heating/cooling system (VRF) controlled by heat pump and heat recovery modules, as well as solar panels on the roof, and as such complies with Catella’s sustainability standards.
Commenting on the acquisition, Jaime Sarrà, senior investment manager of Catella Real Estate, said it would increase the CLD+ Fund’s international exposure to 25% and was a ‘great addition’ to the portfolio in terms of ESG credentials. The fund currently has a volume of €200 mln and is targeting €350 mln.
‘Although the macroeconomic environment is challenging nowadays, we expect the logistics market to keep growing in the mid to long term due to increasing tenant demand for warehouse space and scarcity of land for new construction,’ he said.
Munich-headquartered Catella Real Estate was legally advised on the purchase by Osborne Clarke, fiscally by KPMG and technically by PVM, while Dimass was assisted by JLL and Q.G.M. Law.
