Edmond de Rothschild Real Estate Investment Management (EdR REIM) has acquired four industrial properties across Europe with a market value of €70 mln on behalf of its Euro industrial real estate strategy.
These acquisitions reflect EdR REIM’s conviction to invest in light industrial assets at strategic urban locations that benefit from strong occupier demand and rental growth, the company said in a statement.
In Saint Priest / Lyon, the firm bought 7,065 m2 across two fully leased buildings with six different tenants. In Augsburg / Munich, it acquired a 34,910 m2 fully let facility while in Zwolle, the Netherlands, it secured 6,363 m2 of fully leased space. In Uden, also in the Netherlands, it acquired 16,276 m2 across two buildings.
After these four additions, EdR REIM’s portfolio now consists of more than 50 properties across Germany, France and the Netherlands, with a market value of well over €500 mln.
Theo Soeters, head of Fund Management, said: 'We benefit from a situation where the portfolio generates solid and growing income, while there is equity and debt capital available to take advantage of repriced investment opportunities. We have observed a stabilization in yields in the second half of 2023 and believe that this is a perfect moment to buy high quality assets at strong and proven locations.'
EDR REIM is looking to continue to deploy capital in the industrial and logistics sector into 2024 as the underlying occupier demand remains strong, in particular in urban locations. Soeters: 'The industrial and logistics markets in north-western Europe are fundamentally sound and strong, with low vacancy and limited new supply, while structural trends such as re- and near-shoring continue to support occupier demand.'
