Delin Capital Asset Management has carried out its third transaction in the Netherlands with the acquisition of a 51,000 m2 logistics warehouse in the town of Born.
Delin Capital Asset Management has carried out its third transaction in the Netherlands with the acquisition of a 51,000 m2 logistics warehouse in the town of Born.
Delin, a Jersey registered investment and asset manager focused on logistics, has bought Distripark Sittard from DHG Group, the original developer of the asset, for €36 mln.
The acquisition price reflects a gross yield of 8.2%.
This is the fourth asset acquired for Delin's €400 mln Capital Preservation Portfolio I fund and the third in the Netherlands.
The multi-let asset is fully leased to a number of tenants including Kuehne & Nagel Logistics, Helly Hansen, Emhart Teknologies and Geka Textiles on an average lease length of five years.
'We are continuing to examine an exciting pipeline of deals and this transaction further demonstrates our ability to execute deals quickly on an all equity basis,' said CEO Christian Jamison.
Jones Lang Lasalle and CMS Derks Star Busmann acted for DCAM and Loyens & Loeff acted for DHG Group. DTZ will be undertaking the property management on behalf of CPP1.
Delin's core, inaugural fund was launched in October 2012 and has so far deployed over €80 mln of equity into the European logistics sector.
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PropertyEU Magazine June 2013 no. 5
