Intervest Offices & Warehouses has acquired two logistics sites in the Southern Netherlands, thereby continuing its growth in logistics real estate. The collective purchase price amounts to €40,5m (including registration fees and costs). This acquisition represents a gross initial yield of 7,2%.
In Raamsdonksveer, the company purchased a logistics site with a total leasable space of approximately 35.000m², consisting of a warehouse and mezzanine, and approximately 700 m² of offices. This site borders the distribution centre acquired by Intervest in 2017, in this way forming a strategic building cluster at this location. The distribution centre has been leased by Dome Real Estate since 2015 and operated by Welzorg, the second largest provider of mobility aids in the Netherlands. Both companies constitute a part of Louwman Group. By acquiring this adjacent property, Intervest is consolidating its position in Raamsdonksveer, which forms part of the leading logistics region of West Brabant.
In Eindhoven, Intervest acquires the Silver Forum distribution centre. The building includes a total leasable space of approximately 24.300m² consisting of a warehouse and mezzanine, approximately 5.900m² of separate offices and has c. 200 parking spaces. The building located in the Flight Forum business park. The distribution centre has been fully leased to the high-tech company ASML since 2002.
The assets generate an annual rental income of €2,9m. The average weighted duration of the lease agreements is 4,3 years. The vendor, Distrifonds II Nederland CV, was represented by Profound Asset Management BV and was advised by SoestvanVelten and Rechtstaete.
“Intervest’s strategy is aimed at creating logistics clusters in easily-accessible locations. This was achieved in Raamsdonksveer in West Brabant, with the multimodal site at the airport in Eindhoven, further advancing Intervest position in the Southern Netherlands,” said Jean-Paul Sols, CEO.