Europa Capital, the pan-European real estate investment manager, has completed the acquisition of a prime logistics warehouse near Eindhoven Airport from a private seller. This represents Europa Capital’s third logistics acquisition in the Netherlands in the last 12 months on behalf of its core diversified income strategy, which is seeded with capital from Europa Capital’s principal shareholder, Mitsubishi Estate, and now has a combined value of over €200 million.
The property, which comprises 12,145 sq m, is fully let to five tenants and is situated immediately adjacent to Eindhoven Airport on an established business park.
The transaction, which grows the core diversified income portfolio’s to five assets across France, Germany and the Netherlands generating a total income to over €10 million, follows the acquisition of a 21,054 sq m logistics facility in Tilburg and a 49,658 sq m logistics warehouse in nearby Oss. Assets acquired to date also include multi-let office buildings in Paris and Munich.
The logistics and residential sectors remain the main focus of the investment strategy, which has an initial investment target of €500 million and is aimed at institutional investors from Europe, Asia and the Americas.
Andy Watson, Partner and Fund Manager at Europa Capital, commented: “This is the fifth investment for our core diversified income strategy and the third property in the logistics market in the Netherlands, where we believe that strong occupational dynamics and increasing investor liquidity will benefit investors.”
The seller, a private investor, has been advised by TLF Real Estate.
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