Industrial specialist Clarion Partners Europe has completed the acquisition of a logistics warehouse in Helmond, the Netherlands, for €49.7 mln, from Dutch developer Next Level.
The deal takes the total amount of capital deployed by Clarion Partners Europe – on behalf of its commingled funds – in the Netherlands so far in 2024 to €175 mln
The 39,363 m2 property is certified BREEAM Very Good, was constructed in 2022 and is fully let to a global wholesaler.
Rory Buck, managing director at Clarion Partners Europe, said: 'The fundamentals underpinning the logistics rental growth story in the Netherlands remain compelling, with very low vacancy rates and a limited development pipeline.
'Our ability to provide deal execution certainty during uncertain times is enabling us to maintain our deployment momentum across our high conviction markets.'
Located near the centre of Helmond, a fast-growing logistics and industrial hub 15 km east of Eindhoven, the property benefits from an excellent arterial network, with the nearby N270 connecting Eindhoven and Venray and the easily accessible A67 connecting Belgium and Germany.
Clarion Partners Europe currently manages a 15-asset, 423,000 m2 portfolio of high-quality warehouses in the Netherlands, one of its high conviction logistics markets. This transaction follows the acquisition of two modern logistics assets in Eindhoven and Utrecht from Blackstone.
Neli Mihova, vice president at Clarion Partners Europe, commented: 'This is a highly sustainable, institutional quality property, that benefits from its proximity to over 18 million people within a 100-kilometre radius.
'With significant day one reversion, this asset is perfectly aligned with our investment strategy for the Netherlands.'
Clarion Partners Europe was advised by Loyens & Loeff (legal). Next Level was advised by TLF Real Estate (commercial) and Houthoff (legal).
