SFO Capital Partners, a global real estate investment management firm, and Garbe Industrial Real Estate have completed their acquisition of a refurbishment and restructuring scheme located in Venlo, the Netherlands, for an undisclosed amount.
The entire space of 10,000 m2 leasable area has been leased to a single tenant at a competitive rate on the back of robust market fundamentals underpinned by a strong demand from occupiers.
Mohamad Abouchalbak, CEO at SFO Capital Partners, said: ‘We are thrilled to partner with Garbe and to further expand our investment programme into the logistic real estate market, an asset class that we believe will continue to experience a positive momentum characterized by strong e-commerce penetration and significant supply/demand imbalance. We plan to build on our first successful acquisition in Venlo, one of Europe most prominent logistics hubs, to assemble a cross-border logistic real estate portfolio of strategically-located assets in key markets.’
Maurits Smit, managing director Garbe Industrial Real Estate Netherlands: ‘The Venlo acquisition demonstrates Garbe's ambition to become the leading logistics specialist in the Netherlands. We secured the project at a very early stage and were able to add significant value by using our distinguishing 360-degree approach, which offers the entire property value chain of development, fund, asset and property management services.’
