Global private equity firm HIG Capital has purchased two further portfolios of light industrial assets in the Netherlands for a combined value of €44 mln.
Global private equity firm HIG Capital has purchased two further portfolios of light industrial assets in the Netherlands for a combined value of €44 mln.
The transaction, carried out through HIG affiliate Bayside Capital which in turn acted through its local joint venture MBay Light Industrial, brings the value of the firm’s total Dutch portfolio to €100 mln.
The two portfolios, comprising nine light-industrial estates located across the Netherlands, were purchased from Internos Global Investors. Savills advised Bayside on the purchase.
The acquisition is the latest in a trio of deals carried out by Bayside Capital in the Dutch market. In early June, the company bought a portfolio of seven light-industrial assets for €23 mln via its local joint venture. That deal came around six months after HIG entered the Dutch market through the acquisition of a portfolio of 12 light industrial properties.
MBay Light Industrial is a joint venture with specialist asset manager M7 Real Estate, formed to acquire high yielding multi-let industrial assets in the Netherlands.
Ahmed Hamdani, managing director at Bayside Capital said: ‘We are pleased to continue our investment programme in the Dutch market and to be working again with M7 in this transaction. We are focusing on asset management, which will include substantial capital investment to improve occupancy, income and ultimately capital values. We believe the Netherlands market continues to present excellent value and this transaction reflects HIG’s commitment to continue expanding its already significant European real estate holdings.’
