Frankfurt-listed investor Patrizia Immobilien has acquired a portfolio of logistics properties spread across three locations in the Netherlands from DHG, the Rotterdam-based real estate investor and developer, for €130.8 mln on behalf of Patrizia Logistik-Invest Europa II.
The portfolio, which was completed this year, comprises around 131,000 m2 of space and includes assets in Rotterdam, Moerdijk and Bergen op Zoom. A large part of the portfolio is suitable for handling of hazardous goods (ADR), Patrizia said, a rapidly growing market segment due to stricter laws and regulations.
Emile Poort, Head of Transactions Benelux at Patrizia, commented: 'This is a very attractive investment which will deliver secure and sustainable income for our clients. These properties are positioned in top logistics locations with direct access to Europe’s largest port.'
The fund targets conventional, e-commerce and urban logistics assets throughout Europe. This deal follows other recent logistics acquisitions across Germany and the Netherlands.
'With this acquisition, we have built a portfolio of 18 properties for the fund within just seven months – a demonstration of our deep access to the market and the speed at which we are able to execute transactions given the strength of our enlarged logistics team following the integration of recent corporate acquisitions,' added Nicolai Soltau, fund manager at Patrizia.
Its predecessor fund, Logistik-Invest Europa I, is now fully invested having officially placed the final investment - a logistics asset in Amsterdam - during the first quarter of 2019. Patrizia now manages more than €2 bn of logistics assets across Europe.
Patrizia was advised by Appelhoven Vastgoedadviseurs (commercial) CBRE (technical) and Loyens & Loeff (legal). TLF Real Estate (commercial) and Loyens & Loeff (legal) acted on behalf of DHG.
