European logistics warehouse specialist Delin Property has acquired a fully occupied 36,600 m2 warehouse in the Arnhem-Nijmegen region in the east of the Netherlands, on behalf of its Dutch Logistics Fund.
The purchase price is not being disclosed.
Delin Property Dutch Core/Core Plus Logistics Fund purchased the property in the Bijsterhuizen industrial park in Wijchen from a Deka Immobilien fund.
Built in three phases, the last of which was in 2015, the building is occupied by printing supplies wholesaler Also International and Bikeurope, a subsidiary of Trek Bicycle Corp.
Rob Reiskin, CEO of Delin Property, commented: ‘The disruption in today’s capital markets is presenting opportunities for us to acquire high quality properties at attractive prices. We believe that we’re in the beginning of a strong investment vintage.’
Raffi Killian, head of Investments at Delin Property, said: “Having a strong local presence allowed us to source this investment off-market and we have agreed the deal with Deka Immobilien on attractive terms. Both tenants are great covenants – Europe’s largest distributor of original printing supplies and one of the biggest bike brands in the world.’
The fund invests in modern, logistics warehouses leased to strong performing tenants in proven multimodal distribution sites in the Netherlands. Delin Property co-invests in the Fund alongside institutional investors, mainly from the DACH region of German-speaking countries, and is aiming to grow the Fund’s portfolio to €600-700 mln of assets.
Delin Property is a specialist in logistics warehouses with a portfolio of €1 bn of assets under management, spread across three countries in Europe.
