WDP buys four Benelux logistics assets

Closed-end real estate company WDP has acquired four logistics sites in Belgium and the Netherlands.

WDP said that the total investment volume of €54 mln was in line with the assets' latest appraised value. It expects to generate a gross initial rental yield of 8% through the deals, which are in line with the company's strategy to expand the existing portfolio by 50% within 2016.

The acquisitions are forecast to generate an overall rental income flow of €4.2 mln.

The Belgian properties consist of a 9,000 m2 logistic building in Ternat leased in full to Axus until the end of 2020 as well as a multi-let facility of 19,000 m2 in Zaventem. The property is 85%-let.

In the Netherlands, WDP has acquired a site in Tilburg and one in Venray. The Tilburg site provides over 20,000 m2 of space leased to Bakker Logistiek on a 12-year lease. In Venray, WDP is buying a new build warehouse of more than 40,000 m2 which houses logistics service provider Ceva Logistics on behalf of its customer, Microsoft.