IDI Gazeley, the global logistics business owned by Brookfield, has bought 13 logistics warehouses as it establishes a presence in the Netherlands.
The acquisition of more than 2m sqft of logistics space is its first investment in the country and is intended to form the core of a new Dutch platform.
IDI Gazeley is now present in seven European countries, and it owns 13,440m sqft of space in Europe and China.
The Dutch portfolio was acquired from Eurindustrial, a Dutch real estate fund, and is spread across a number of locations, including Amsterdam, Venlo and Venray.
IDI Gazeley, part of Brookfield Property Partners, said the portfolio has a high occupancy rate and is leased to leading logistics and distribution companies, including UPS, Syncreon, Canon and ND Logistics.
Chief acquisitions officer Nick Cook said: “This major portfolio acquisition gives us a great platform from which to build our presence in the Netherlands and increases our assets under management considerably.”
IDI Gazeley was advised by DTZ Zadelhoff, which, it was announced today, is being acquired by Cushman & Wakefield.