Global private equity firm HIG Capital has increased its light industrial property holdings in the Netherlands by buying a portfolio of seven assets via its local joint venture.
Global private equity firm HIG Capital has increased its light industrial property holdings in the Netherlands by buying a portfolio of seven assets via its local joint venture.
MBay Netherlands, jointly owned by HIG's Bayside Capital affiliate and specialist European asset manager M7 Real Estate, acquired the assets for €23 mln.
Six of the assets were purchased from Rynda Capital while one property was acquired from two local private investors, including Ringstaete. The assets are located in Amsterdam, Breda, Eindhoven, Hengelo, Zoeterwoude, Utrecht and Zoetermeer. They comprise a total area of 53,000 m2.
The purchase comes around six months after HIG entered the Dutch real estate market through the acquisition by MBay Netherlands of a portfolio of 12 light industrial properties.
As with the first portfolio, Mbay Netherlands was advised in the latest transactions by Savills, Cortona and law firm Boekel de Nerée.
Cortona is the asset manager of the portfolio.
Bayside Capital is an investment firm with around $4.5 bn (€3.3 bn) of assets under management across several segments of the primary and secondary debt capital markets with an emphasis on long-term returns.
Click on the links below for more on HIG Capital and MBay Netherlands.
