Real IS, the property arm of German lender BayernLB, has acquired a newly built logistics property in Wijchen, East Netherlands.
The new build project comprises 30,000 m2 in the Bijsterhuizen business park close to the German border. The asset was acquired for its real estate special alternative investment fund Real IS Smart.
It marks the fund's second investment in the Gelderland region, following the acquisition of a new build logistics facility last year covering 27,460 m2. The two properties together comprise more than 57,460 m2 in total and are fully let.
'Our second acquisition of a contemporary logistics property in Wijchen has enabled us to reinforce our presence in an ideal distribution location with good connections to freight transport and the motorway,' said Jochen Schenk, CEO of Real IS.
'Wijchen plays a special role as a logistics centre for goods of all kinds through its proximity to the Rhine-Ruhr region. More than 51% of all European logistics hubs are located between Rotterdam and the German border. This underscores how attractive the location is and makes the property a forward-looking investment,' Schenk added.
The seller received legal advice from Van Bethem & Keulen during the transaction. Real I.S. was provided with legal advice by Loyens & Loeff, technical advice by Savills and tax advice by Mazars.
