Tuesday, 6 January 2015
Delin Capital purchases €40 mln off-market warehouse in the Netherlands (NL)
Delin Capital Asset Management, a Jersey registered real estate investment advisor and asset manager focused on investments in logistics assets in the UK, the Netherlands and Belgium, has acquired a 44,142 m² modern, high specification distribution warehouse in Waddinxveen, the Netherlands, through a €40 mln sale and leaseback transaction from Van Uden Group, a privately owned European logistics operator.
The asset was acquired for DCAM’s Capital Preservation Portfolio I, the Company’s inaugural core plus logistics fund. It is the seventh Dutch asset acquired by the Fund and takes CPP I’s total investment to over €400 mln.
The 44,142 m² freehold distribution warehouse was built in 2011 and it is situated in the established strategic location of Distripark A12, in the municipality of Waddinxveen, well positioned to benefit from neighboring Rotterdam, Europe’s largest port. Van Uden Group has taken a new ten year lease, without breaks, on the warehouse and will use it to satisfy multiple food and beverage contracts for its clients, which include Nestle.
Christian Jamison, Chief Executive Officer of DCAM commented: “Once again, we are pleased to have been able to capitalise on our reputation as being a strong transaction partner to source another deal off-market. This is a high quality, well located, modern logistics asset, which will generate attractive income returns for our investors. Furthermore, having acquired the asset using our existing cash resources, we can leverage the investment later in the year, with a view to making further acquisitions in the European logistics market when we identify suitable opportunities.”
Source: FTI Consulting