Investment management boutique Tristan Capital Partners has acquired three Dutch logistics assets for €42 mln, through its long-life core plus fund, CCP 5, and in partnership with ARC Real Estate Partners.
The assets consist of 50,000 m2 of warehouse space and are located in the key Dutch logistics hot spots of Lelystad, Zevenaar and Zeewolde.
According to the firm, the deals bring Tristan's Dutch logistics platform, dubbed Juliet, to a total volume of €100 mln across seven assets. It is targeting a size of around €250 mln, and continues to seek acquisitions in sale/leasebacks, forward purchases, vacant possessions and mid-market transactions.
Kick Van der Wel, director at Tristan Capital Partners, said: 'The Netherlands has an open and robust economy, with a flourishing logistics sector and plays a pivotal and increasingly important role in European transport infrastructure.
'We intend to follow these acquisitions with further investments in the Dutch logistics sector, as we believe that that the long-term appeal for these assets will continue to grow on the back of continued structural changes in retailing, e-commerce and supply chains.'
While the Lelystad property was acquired from a private investor, the Zevenaar property was acquired in a sale-and-leaseback transaction with the vendor, Skantrae, and also includes the realisation of a 7,000 m2 warehouse extension. The Zeewolde property is a forward-funding development acquired from Dutch property developer Borghese Real Estate.
CCP 5 and ARC were advised by Houthoff, SGS Search, 1530, 3stone and CBRE.
