European investor Patron Capital and Dutch asset manager Base Investments have launched UrbanLinx, a platform to invest in sustainable light industrial assets in the Netherlands.
UrbanLinx will focus on the sustainable renovation and extension of existing buildings and will look to acquire assets valued between €5 mln and €25 mln. Patron and Base Investments are aiming to compile a portfolio worth circa €250 mln over the next three years.
The platform has already acquired properties in Houten and Amsterdam as part of the portfolio.
The Houten property, acquired from Conway Holding International B.V., comprises 150,000 ft2 of warehouse and office space in a well-connected commercial and retail area. The Amsterdam property, acquired from Jurred Bedrijfshuisvesting B.V., was built in 1985 and comprises 65,000 ft2 of warehouse and office space, split into multi-tenant spaces.
Base Investments will take over asset management of both multi-let properties, which will be upgraded in terms of the building shell, technology and fit-out over the coming years. UrbanLinx will follow a ‘transform-to-green’ strategy, developing the sites in line with comprehensive ESG criteria.
The platform extends the collaboration between Patron and the managers of Base Investments, which began 12 years ago when Patron acquired the office and light industrial platform, Merin.
The acquisition in Amsterdam was brokered by Van Dijk & ten Cate en Stout Vastgoed Consultancy; GreenbergTraurig, Savills, FSE and CFP acted as consultants to the purchaser. The acquisition in Houten brokered by Platform Real Estate and Zuijdplas & Partners; GreenbergTraurig, Savills, FSE and CFP acted as consultants to the purchaser.
Julian Rosenburg, investment director at Patron Capital, said: 'These deals in Houten and Amsterdam reflect our strategy of making targeted investments with the aim of creating modern light industrial schemes in future-proofed locations.'
Rodiaan Gijselaar, managing director of Base Investments, added: 'We have worked successfully with Patron on the turnaround of Merin between 2012 and 2017. In the current market we see again a big opportunity to invest in light industrial assets. This is a market with growing demand for high quality, sustainable buildings and with a supply that is not able to keep up with that demand. With the capital of Patron and the hands-on approach from Base Investments, we believe we can help to bridge that gap.'
