Dutch property company Geneba has purchased two warehouses owned and used by food logistics specialist Bakker Logistiek Group for an undisclosed sum.
The properties are located in the municipalities of Tilburg and Zeewolde and include a total lettable area of 70,000 m2.
'In order to speed up the process of further developing and growing both the logistics company and the dealership business of Bakker Groep, we have opted for a sale-and-leaseback transaction to support this expansion. Due to this transaction, the Bakker Group creates more flexibility and more financial opportunities,' commented Piet Bakker, owner Bakker Group.
Benelux-focused Bakker specialises in the warehousing and transportation of conditioned and cooled food products. The property in Zeewolde is its main warehouse and distribution facility and houses Bakker’s corporate headquarters. The logistics facility in Tilburg serves clients in the Netherlands, Belgium, Luxembourg and Germany.
'Partnering with Bakker and adding these two high-quality assets to Geneba’s portfolio underscores our strategy of providing superior property solutions to corporate businesses in core Europe. Bakker is a very strong tenant within the recognizably stable food sector. We are proud to have been selected as Bakker’s partner for this transaction,' concluded Wulf Meinel, Geneba's CEO.
The acquisition was financed by a long-term loan from Deutsche Postbank AG as well as additional corporate debt and own cash. Geneba was advised by Loyens & Loeff (legal) and JLL (commercial). The seller was advised by Osborne Clarke (legal) and Proptimize (commercial).
