Hansteen, a holding set up by Morgan Jones and Ian Watson, has acquired two prime logistics properties in Houten, the Netherlands, for EUR 17.3 mln. It has also bought a portfolio of 13 properties in Neckarsulm, southwestern Germany, for EUR 16 mln.
Hansteen, a holding set up by Morgan Jones and Ian Watson, has acquired two prime logistics properties in Houten, the Netherlands, for EUR 17.3 mln. It has also bought a portfolio of 13 properties in Neckarsulm, southwestern Germany, for EUR 16 mln.
The Dutch portfolio is the first purchase in a joint venture with logistics specialist Ormix, Hansteen said in a press release. The two new buildings comprise some 15,748 m2 and are let for five and 10 years respectively.
The German assets consist of 13 industrial and warehouse units covering 23,638 m2. The occupancy rate averages around 80%. Hansteen's ceo Morgan Jones said: 'Both these two acquisitions represent an exciting step forward for Hansteen. In Germany we are growing sufficiently in confidence to acquire properties with more asset management opportunities. In Holland on the other hand, where values have increased significantly in recent months, we are seeing good value in the prime end of the market.'
