HighBrook and Proptimize have grown their Dutch urban logistics platform to nearly €500 mln with two more acquisitions.
The pair have closed on logistics properties in Ridderkerk and Lisse in the Netherlands for around €45 mln for their CityLink portfolio.
Since launching the platform just 10 months ago, CityLink has expanded to over 50 assets with a total area of over 425,000 m2. The portfolio has been assembled through as many as 36 separate transactions and is now valued at nearly €500 mln.
In a statement, the firms said CityLink aimed to at least double its portfolio next year. It is looking for light industrial, last mile and distribution centre properties from 3,000 m2 within a radius of around 20km at major cities in the provinces of North Holland, Flevoland, South Holland, Utrecht, Brabant and Gelderland.
CityLink is also keen on working on forward funding developments with local developers.
Proptmize is an independent real estate company.
HighBrook Investors is a real estate private equity firm that was founded in 2010 whose strategy is value add investments across North America and Europe which are typically in need of repositioning or restructuring.
