Europa Capital, acting on behalf of Europa Capital’s Fund V’s Dutch Light-Industrial Platform, and ARC Real Estate Partners have completed the acquisition of a light industrial portfolio, comprising six buildings in the Netherlands from Looijie Properties. This portfolio, which totals c.29,000m², is 97% let to approximately 48 tenants with an average WALT of 3.5 years. The properties are situated close to strong urban locations, including Dordrecht, Berkel en Rodenrijs, Heijningen, Zwijndrecht and Venlo. The purchase price was not disclosed.
James Fortescue, Partner at Europa Capital, commented: “Since the end of March, we have deployed a significant amount of capital to create an attractive portfolio focussed on both light industrial and “last mile” distribution properties within the Netherlands. This latest acquisition is strongly aligned to DULIP’s investment strategy and presents an opportunity to leverage our asset management expertise to improve the rental income. We remain focused on growing the Platform further across the Netherlands, as well as exploring similar investment opportunities in Germany.”
Olle van Alphen, Managing Partner at ARC Real Estate Partners, noted that “With this acquisition, we have further grown the DULIP Portfolio’s weighting into the wider Rotterdam area. We continue to see opportunities to improve market rental levels, as demand for light industrial space increases and available supply diminishes.”