ING Real Estate has announced the acquisition of the multifunctional distribution center Gewenten 41 in Roosendaal, the Netherlands, on behalf of the ING Real Estate European Industrial Fund. The property comprises some 15,500 m² of storage space, 530 m² of office space and a parking lot for 150 cars. The center is leased to TNT Fashion on a long-term contract on behalf of the client Fila.
The ING Real Estate European Industrial Fund is a semi-open-ended unlisted fund investing in prime warehouses, distribution centers and light industrial properties near large population centers and in logistics hubs in seven European countries. The fund, which was launched in December 2005, targets a size of €1 billion.
Buddy Roes, Portfolio Manager of ING Real Estate European Industrial Fund, commented: "Centrally located between the two main European ports of Antwerpen and Rotterdam, this is a perfect asset for the fund because of its free height, layout and number of loading doors. In addition, the plot size allows for future expansion, which is typical for core warehousing. This distribution center in Roosendaal is the second acquisition of the ING Real Estate European Industrial Fund in the Netherlands. With this acquisition, the fund reaches a total committed investment volume of almost €300 million or 30% of its target size within the first year of its four-year commitment period.
In addition to the Roosendaal distribution center, the fund portfolio includes logistics properties in Germany (Gehespitz Area, Frankfurt), France (Galeries Lafayette, Bussy, Frans Maas in both Lyon and Lille), Portugal (Logispark Montijo, Lisbon), Spain (Tarragona) and the Netherlands (Nijmegen). ING Real Estate worked with Troostwijk Makelaars to complete this transaction.
Source: ING Real Estate