German investment firm Patrizia Immobilien has acquired four logistics properties in Belgium and the Netherlands for around €70 mln from Leasinvest Real Estate and DSV Air & Sea.
The properties have a total area of more than 100,000 m2. The Belgian assets are located in Brussels, Antwerp, Tongeren, while the Dutch portion of the transaction relates to a property in the Rotterdam-Dordrecht region. The deal brings its managed real estate assets in the logistics sector to around €340 mln.
The three Belgian properties were acquired from Leasinvest Real Estate. While the properties in Antwerp and Tongeren are located in a fully developed logistics park, the property in Brussels benefits from access to the city centre. The properties represent around 80,000 m2 of logistics space and 8,000 m2 of office space. The average remaining term of the leases is over five years, with tenants including Ziegler, MSF, Van Inn, Van den Borre and SKF.
Patrizia also purchased a 12,500 m2, fully renovated, modern distribution centre in Dordrecht from DSV Air & Sea. A long-term lease was concluded with the seller.
All of the assets will be held in the open-ended alternative investment fund 'Patrizia Logistik-Invest Europa I'.
