Bayside Capital, a credit affiliate of H.I.G. Capital, announced the purchase of two portfolios of light industrial assets in the Netherlands. The two portfolios have been acquired for a combined value of approximately €44million and consist of nine industrial estates.
The properties were purchased by MBay Light Industrial, a joint venture established by a private investment fund managed by Bayside Capital in partnership with specialist asset manager M7 Real Estate, which was formed to acquire high yielding multi-let industrial assets in the Netherlands. With the latest transaction, Bayside has now acquired three light industrial portfolios with over €100 million of gross asset value.
Ahmed Hamdani, Managing Director at Bayside Capital said, “We are pleased to continue our investment programme in the Dutch market and to be working again with M7 in this transaction. We are focusing on asset management, which will include substantial capital investment to improve occupancy, income and ultimately capital values. We believe the Netherlands market continues to present excellent value and this transaction reflects H.I.G.’s commitment to continue expanding its already significant European real estate holdings.”
Source: H.I.G Capital