AEW Europe acquires first Dutch asset for LOGISTIS (NL)

AEW Europe announces that, on behalf of its LOGISTIS Fund, it has acquired DC Helmond, a group of three grade A logistics properties totalling 50,000 m² in Helmond, The Netherlands. The properties have been acquired from District54, the development business of Van Berlo Vastgoed, for €40 mln, representing a gross acquisition yield of 6.9%.
DC Helmond comprises three warehouses of 18,000 m², 17,000 m² and 15,000 m² developed in 2004, 2006, and 2013 respectively, all of which are fully let to Schneider Electric with a minimum lease term of five years. Strategically located 15km from Eindhoven at the junction of the A2 and A67 motorways, which connect Antwerp to Venlo and to Germany, Helmond is Schneider Electric’s key logistics hub serving the EMEA region.
In addition, AEW Europe has secured a development agreement with the vendor, which developed the existing assets for Schneider Electric, with the option to extend DC Helmond.
The transaction represents LOGISTIS’ first acquisition in The Netherlands and, following investments carried out in Germany and Central Europe, means LOGISTIS has committed to acquisitions in excess of €400 mln in 2015. LOGISTIS’ growth strategy remains focused on working with local developers to build a portfolio of grade A logistics parks in prominent locations across the main logistics hubs in Continental Europe.
AEW Europe and District54 were advised by JLL.
AEW Europe was one of the first real estate investment managers to offer a specialist logistics fund in 1999 and has since built up the existing LOGISTIS portfolio of grade A logistics assets to more than 1.8 mln m² in France, Italy, Spain, Benelux, Germany and Central Europe.
Source: AEW Europe