Swiss family-run investment house Edmond de Rothschild Real Estate Investment Management (REIM) has acquired a portfolio of six industrial assets in the Netherlands.
Financial details were not disclosed.
The properties, which comprise around 53,000 m2 of total lettable area, were purchased on behalf of Orange Industrial, a newly incorporated joint venture with New York based AIG Global Real Estate, the real estate investment arm of insurer American International Group (AIG).
Five of the assets, covering some 50,000 m2 of space, are located in the Randstad. The properties are strategically located to service densely populated areas including Diemen, The Hague, Haarlem, Barendrecht and Mijdrecht, the fund said.
Onno Scheij, managing director, head of Benelux, Edmond de Rothschild REIM commented: 'With the acquisition of this seed portfolio we have acquired a great value-add product in line with the investment strategy to acquire existing and to-be-developed industrial and distribution assets throughout the Netherlands. We look forward to adding further assets to this portfolio with AIG Global Real Estate.'
Orange Industrial invests in industrial and logistics real estate near urban areas and in distribution centres. The venture intends to pursue the addition of value through active asset management and investments into regeneration and sustainability, the investment manager said.
Edmond de Rothschild REIM and AIG Global Real Estate were advised by Van Doorne, Clifford Chance and EY on legal and tax matters. SGS Search advised on technical matters.
