Real estate and private equity investor Somerset Capital Partners has acquired a 94,000 m² distribution centre in Geldermalsen, the Netherlands from privately owned investment company HB Capital.
Financial details were not disclosed but data filed with the Dutch land registry reveals Somerset paid €46.5 mln for the asset.
The property is centrally located in the Netherlands near the A2 (Maastricht-Amsterdam) and A15 (Rotterdam-Arnhem) motorways and is occupied by household goods chain Blokker which uses it as the nerve centre of its logistics operations. It is the last Dutch logistics property to be sold by HB Capital, the investment vehicle of the Blokker family.
The distribution centre was recently renovated and comprises around 85,000 m2 of warehouse space, 4,000 m² of mezzanine space and 5,000 m² of office premises. An adjacent 6-hectare development plot will be developed by Somerset in due course.
HB Capital was advised on the transaction by Van Benthem & Keulen and TLF Real Estate. Somerset was represented by Solid Attorneys, Hollis Global and Loyens & Loeff.
