US privately-held developer-investor Hines has emerged as the buyer of the Fresh Park Venlo business park in what is believed to be the largest logistics single asset deal in Dutch history.
Hines, which last year also bought the headquarters in Amsterdam of the Dutch financial services regulatory authority for €116 mln, has taken control of the park which includes a total of 300,000 m2 housing over 70 tenants, 110 hectares of land with over 20 hectares of development potential, 23 logistics facilities, various car parks and a management organisation of nine people.
Financial details were kept confidential.
The vendor is the local association Telersvereniging Zuidoost Nederland (ZON), which following the sale plans to focus on its core business, the service to 'fresh & food' companies.
Fresh Park Venlo, known for its fruit and vegetable auctions, is one of the largest food hubs in Europe with a size of 135 hectares.
ZON was commercially advised by JLL. Hines was advised by Savills.