Tristan’s Dutch logistics platform has reached €100m following the recent acquisition of three further warehouse assets in the Netherlands. The assets were acquired for a total purchase price of approximately €42m by CCP 5 LL, Tristan’s long-life core-plus Fund, and local operating partner, ARC Real Estate Partners. The assets consist of 50,000m² of warehouse space and are located in the key Dutch logistics hot spots of Lelystad, Zevenaar and Zeewolde.
The Lelystad property was acquired from a private investor. The Zevenaar property was acquired in a sale and leaseback transaction with the vendor Skantrae. The deal with Skantrae also includes the realisation of a c. 7,000m² warehouse extension. The Zeewolde property is a forward funding development acquired from Dutch property developer Borghese Real Estate. The “Juliet Platform”, which forms part of the CCP 5 Fund portfolio, has now completed seven transactions, with additional assets under exclusivity and aims to grow the Dutch logistics platform to around €250m. The Platform continues to actively seek acquisitions in sale/leasebacks, forward purchases, vacant possessions and mid-market transactions.
Kick Van der Wel, Director at Tristan Capital Partners, said: “The Netherlands has an open and robust economy, with a flourishing logistics sector and plays a pivotal and increasingly important role in European transport infrastructure. We intend to follow these acquisitions with further investments in the Dutch logistics sector, as we believe that that the long-term appeal for these assets will continue to grow on the back of continued structural changes in retailing, e-commerce and supply chains.’’
