Europa Capital, the pan-European real estate investment manager, together with their joint venture partner, ARC Real Estate Partners, announces the off-market sale of a light industrial portfolio of 15 assets (the “Portfolio”) in the Netherlands, on behalf of its value add fund, Europa Fund VI (the “Fund”), to BOREAL.
The Portfolio, which constitutes the entirety of the Fund’s Dutch Light Industrial Platform (“DLIP”), comprises a total of c. 143,000 sq m of lettable space across 15 buildings that are rated BREEAM ‘Very Good’ or ‘Good’. Situated in 15 cities across the Netherlands, the Portfolio is 95% occupied with a WALT of 5.66 years.
DLIP was established in 2021 targeting investments in locations where there is strong occupier demand for light industrial space close to urban areas in the Netherlands.
Jason Oram, Partner & Fund Manager at Europa Capital, commented: “The sale of DLIP is in line with our business plan and generates strong returns for the Fund’s investors. Since the launch of the Platform, we have assembled a portfolio of high quality units, including three assets that we developed speculatively and subsequently leased, which are let to strong occupier covenants, and have increased in value. Working with our local operating partner, ARC Real Estate Partners, we were able to source a buyer for the Portfolio off market, demonstrating its institutional appeal.”
Europa Capital has a long track record of generating attractive returns for investors through investment into the urban light industrial and logistics sector on behalf of its value add and core strategies. In total, Europa Capital has acquired 93 buildings in the sector for a total of €674 million since 2018.