Europa Capital, the pan-European real estate investment manager, announces that they have completed the acquisition of a light industrial portfolio, comprising six buildings in the Netherlands from Looijie Properties, on behalf of Europa Capital’s Fund V’s Dutch Light-Industrial Platform (“DULIP” or the “Platform”).
This portfolio, which totals c.29,000 sq m, is 97% let to approximately 48 tenants with an average WALT of 3.5 years. The properties are situated close to strong urban locations, including Dordrecht, Berkel en Rodenrijs, Heijningen, Zwijndrecht and Venlo.
The acquisition increases the number of assets in DULIP to 26, growing the Platform’s AUM to over €50 million. Accordingly, the Platform now comprises circa 85,000 sq m of lettable space.
The Platform targets investments in locations where there is strong occupational demand for light industrial space due to the rise of ecommerce and businesses looking to locate close to major urban areas.
James Fortescue, Partner at Europa Capital, comments: “Since the end of March, we have deployed a significant amount of capital to create an attractive portfolio focussed on both light industrial and “last mile” distribution properties within the Netherlands. This latest acquisition is strongly aligned to DULIP’s investment strategy and presents an opportunity to leverage our asset management expertise to improve the rental income. We remain focused on growing the Platform further across the Netherlands, as well as exploring similar investment opportunities in Germany.”
DULIP was advised by Dentons and BOAG.
