HBI, one of Halverton's flagship funds, has recently completed the acquisition of eight properties located in France, Germany and the Netherlands totaling in-excess of €40 million. The fund has now reached €800 million assets under management.
The multi-let industrial properties are located in Tilburg and Dordrecht in the Netherlands, Ladbergen and Hamburg-Billbrook in Germany and Fosse-Blois, Chartres (two assets) and Saint Nazaire in France.
Located on the Vossenberg Industrial Park, one of the largest industrial parks in the Netherlands, the asset in Tilburg was acquired for some €3 million reflecting a net initial yield of 7.82%. The asset will provide HBI with a secure income stream over the medium term and is well placed to benefit from the continued demand for Dutch industrial assets.
Dordrecht is located approximately 20 km to the south of the Port of Rotterdam and was acquired for about €3.8 million reflecting a net initial yield of 8.19%. The asset is strategically located with excellent potential to secure longer term income from the existing tenants.
Ladbergen located in Germany, equidistant from Osnabruck and Muster was acquired for €5.1 million reflecting a net initial yield of 8.22% with an attractive reversion to 9.44%. The property let to 17 tenants and will provide HBI with a diverse income stream with excellent asset management potential.
Located in northern Germany, Hamburg-Billbrook was acquired for about €3 million reflecting a net initial yield of 8.32%. The asset is located in one of Hamburg's most important industrial areas.
The four French assets were acquired as part of a portfolio and are located in Fosse-Blois, Chartres (two assets) and Saint Nazaire. The assets were acquired for €25 million reflecting an attractive net initial yield of 7.76% with significant upside potential.
David Ebbrell, Halverton's acquisition director for HBI, commented, "The acquisition of these assets will further diversify HBI's holdings throughout Europe. These eight assets are envisaged to provide HBI with short to medium term upside potential, which will be realized through the implementation of Halverton's asset management strategy."