Patrizia AG has acquired a 52,572m² logistics asset in Tilburg, the Netherlands, for around €73m in an off-market transaction, on behalf of clients investing in its Patrizia Logistik-Invest Europe III Fund. It has been purchased from DOKVAST B.V., the investor and developer that specialises in smart and sustainable real estate.
Tilburg is regarded as one of the best logistics locations in Europe, due to its proximity to the ports of Antwerp and Rotterdam, as well as the direct access it provides to Germany and the rest of continental Europe. The state-of-the-art facility is fully let to the current tenant, stichd - a wholly owned subsidiary of sportswear manufacturer Puma, underpinning the strength of the tenant covenant and providing a strong and stable income profile with a WALT of eleven years. The asset has been developed to high ESG and sustainability standards, with BREEAM certification as well as an A++ energy rating. It also offers flexibility with the option to be repositioned into three separate units.
Alexander van Gastel, who led the transaction for Patrizia, said: “The sustained and rapid growth in e-commerce, as well as urbanisation and the on-shoring of manufacturing across Europe, continues to drive the demand for prime logistics properties, especially in premium distribution hubs such as Tilburg. The strategic location of the property, between the ports of Rotterdam and Antwerp and the Rhine-Ruhr region of Germany, supports our conviction in this asset’s long-term potential. Its profile is well aligned to the objectives of Patrizia Logistik-Invest Europe III and we believe this investment opportunity which we sourced off-market thanks to our strong local team and expertise puts us on a good path for the year ahead.”
