US-based investor WP Carey has struck again in the Dutch market with the acquisition of a logistics facility in the Port of Rotterdam for €38 mln.
US-based investor WP Carey has struck again in the Dutch market with the acquisition of a logistics facility in the Port of Rotterdam for €38 mln.
The deal comes hot on the heels of WP Carey's purchase earlier this month of a Class-A office project in the southern Dutch city of Eindhoven which will serve as Rabobank's headquarters.
The Rotterdam facility provides 70,000 m2 and is leased for a 10-year term to the European subsidiary of Japan's third-party logistics provider Nippon Express.
It was purchased from its developer, Borghese Logistics, which completed the building in October 2014. The asset boasts BREEAM sustainability certification.
'The Port of Rotterdam is Europe's largest port, linking cargo ship arrivals from around the world to the road and rail networks of Europe. This transaction reflects our focus on acquiring critical, high-quality assets in strategic locations that can generate stable current income and add long-term value to WP Carey's portfolio,' commented Jeffrey Lefleur, managing director of WP Carey.