PGIM Real Estate, part of global group Prudential Financial, has made its first acquisition in the Netherlands on behalf of investors in its European core strategy.
The deal comprises a modern 20,918 m2 warehouse property with 68 parking units in the Dutch city of Eindhoven, the fifth-largest city in the Netherlands. It is located close to Eindhoven Airport.
Financial details were not disclosed.
The warehouse is fully let to a global name in logistics. The deal was conducted through PGIM's partnership with DHS Real Estate Investment Management (DHS REIM), an independent real estate manager based in Amsterdam.
Thomas Kallenbrunnen, senior portfolio manager for PGIM Real Estate’s core European strategy, said: 'After our European core strategy’s first acquisition in the UK last month, we are extremely pleased to follow up with our first purchase in the Netherlands. Logistics is a key sector for the Dutch economy and has been a key long-term focus for our European core strategy.
'This property is located in a strong logistics submarket in the south of the Netherlands, which is connected to important transport hubs through direct motorway and airport connections. Availability of high-quality logistics space continues to be limited in the Netherlands, pointing to meaningful demand in the years ahead.'
