Celogix Property Fund has appointed property consultant Cushman & Wakefield Healey & Baker (C&W/H&B) to carry out the Fund’s annual valuation of its 424,000 sq m real estate portfolio across Europe.
The portfolio comprises modern, flexible logistic and distribution centres in selected ‘hot spots’ across Europe. It is split between France (181,000 sq m), The Netherlands (129,000 sq m), Germany (74,000 sq m), Spain (31,000 sq m) and Belgium (33.000 m2 sq m).
The Fund is managed by Aberdeen Property Investors Continental Europe BV, which is based in Amsterdam. Previously, C&W/H&B valued just the Dutch real estate of Celogix.
Bob Reidsma - Director Asset Management of Aberdeen Property Investors Continental Europe, says: “We are planning to expand our portfolio this year to reflect a value of around €400 million. To do this effectively we needed to appoint a Firm that was in a position to offer full European coverage and market knowledge given that the logistics and distribution sectors are cross-border economic activities requiring a pan-European approach. Not only did C&W/H&B offer this, but we already knew C&W/H&B from working with them successfully in The Netherlands.”
Baldwin Poolman, Deputy Managing Partner of C&W/H&B in The Netherlands, who is coordinating the valuation of the international portfolio of the Celogix Property Fund, says: “C&W/H&B provides a full range of property services across Europe, and hence we are in a prime position to value Celogix’s real estate portfolio. We can also help them to maximise the potential of their portfolio by anticipating movements in markets across Europe.”
Source: Cushman & Wakefield Healey & Baker