CELOGIX Property Fund, the logistics property fund, has bought a modern logistics distribution centre at Marco Poloweg at Trade Port West in Venlo. The property has a floor space of 25,600 m² and has a lease contract with Frans Maas. The property is strategically located at the A67 motorway.
The investment is worth EUR 14.2 million and offers investors an attractive return. Earlier, the CELOGIX Property Fund bought two distribution centres in the Netherlands (Tilburg and Venray), one in Germany (Bedburg, between Düsseldorf and Cologne) and two in France (Mitry-Compans, and Lagny-Le-Sec, both near Paris - Charles de Gaulle Airport).
The CELOGIX Property Fund comprises 10 Dutch institutional investors and expects to have built up a commercial property portfolio worth more than EUR 250 million early 2002. The specialist property fund invests exclusively in logistics distribution centres at strategic locations in Belgium, France, Germany and the Netherlands. The fund manager, Aberdeen Celexa Property Investors has identified 30 hotspots in these countries as targets for investment.
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Logistics service providers, trading companies and chain stores are increasingly looking for more flexible properties although not necessarily as owner-occupiers. More companies are outsourcing their logistics activities. Equally investors are seeking this type of investment because for the market for logistics property is far reaching. Moreover investment in logistic property combines a healthy return with an increase in value.
CELOGIX Property Fund forms an outstanding example of linking the interests of investors with tenants because the fund focuses exclusively on buildings specifically developed for logistics service providers, which are bought from owners or developers.
(source: Celogix)
