International property company HDG Mansur has committed to the purchase of two large logistics developments in the Dutch city of Rotterdam. One of the projects will provide 20,000 m[sup]2[/sup] of lettable space. The other will have 30,000 m[sup]2[/sup]. The financial details of the sale on completion transaction were not disclosed.
International property company HDG Mansur has committed to the purchase of two large logistics developments in the Dutch city of Rotterdam. One of the projects will provide 20,000 m2 of lettable space. The other will have 30,000 m2. The financial details of the sale on completion transaction were not disclosed.
Speaking to PropertyNL at the MIPIM property fair in Cannes, Philip Churchill, head of European investments at HDG, said the company would love to move more into the logistics sector as it provides a 'nice income' and the Rotterdam properties can be leveraged up and held for 3-five years to maximise the returns. 'Basically, we are trying to outperform others while not taking huge risks - we think that logistics can be part of this strategy,' he said.
HDG Mansur, the market leader in Islamic real estate finance, provides real estate fund and asset management services and property development services. The company made its first forays into the Dutch and German markets in 2006. Churchill said the HDG, whcih was founded by Harold D Garrison in the US, made overall transactions worth a total of EUR 565 mln in the last 12 months.
