Cording Real Estate Group, a member of the Edmond de Rothschild Real Estate Investment Management Platform, has acquired an existing logistics asset in the Harbour area of Amsterdam for its Cording Euro Industrial Real Estate Fund (CEIREF). The seller, which is also the developer, is a joint venture between Minerva Development and DHG.
The asset at Nieuwe Hemweg 55 is a logistics complex which is fully let to a harbour-related tenant that has its storage and distribution facilities there. The property comprises c.5,200m² of modern logistic space which was completed in 2017. The purchase price was not disclosed.
Rene de Heus, Head of Investment Benelux at Cording: “Because of the strategic location in the harbour area close to the city centre of Amsterdam, the quality of the property and of the tenant, this asset fits perfectly within the investment strategy of the fund.”