Closed-end real estate company WDP has acquired a distribution centre at Barneveld in the Netherlands for EUR 26 mln from local real estate company Pon Onroerend Goed.
Closed-end real estate company WDP has acquired a distribution centre at Barneveld in the Netherlands for EUR 26 mln from local real estate company Pon Onroerend Goed.
The vendor is currently working on a complete renovation and new construction on the location, which is to be completed by June 2013. A Pon subsidiary will be the tenant of the site covering more than 30,000 m2, with a fixed 15-year rental agreement.
'This strategic acquisition takes the total WDP portfolio in the Netherlands to more than EUR 350 mln,' the company said in a statement.
The new construction will be a turnkey delivery to WDP. The annual lease after delivery in June of 2013 will amount to EUR 2.1 mln, providing WDP with an initial gross rental yield of 8%.
