Standard Life Investments' European Property Growth Fund has acquired a landmark logistics asset in the southern Dutch city of Venlo in its second acquisition in the Netherlands.
Standard Life Investments' European Property Growth Fund has acquired a landmark logistics asset in the southern Dutch city of Venlo in its second acquisition in the Netherlands.
The fund has acquired the Tasmanweg 2 unit, a 28,000 m2 facility fully let to global transport and logistics company DSV.
Financial details were not disclosed.
'Venlo is one of the key logistic and transport sites in Europe. We are delighted to have acquired this first-class logistics asset,' commented Veronica Gallo-Alvarez, fund manager of the Standard Life Investments European Property Growth Fund. 'This acquisition is in line with the fund’s strategy to target long-term stable income returns as a main driver of performance and to be in a position to exploit markets with potential for capital growth.'
Cushman & Wakefield acted for Standard Life Investments; JLL acted for the vendor.
