Union Investment has acquired a planned logistics centre in Ridderkerk, south-east of Rotterdam. The new build with its 33,500m² of rental space is completed this month. The seller of the logistics property is the Somerset Capital Partners, an experienced Dutch developer. The purchase price was not disclosed. Union Investment will hold the new acquisition in the portfolio of its institutional open-ended real estate fund UniInstitutional European Real Estate.
“Dutch logistics regions are highly attractive to international investors. The Rotterdam area, in particular, provides ideal conditions for modern multimodal logistics. Steady economic growth and low vacancy rates in the logistics segment create a solid basis for long-term investment,” said Stephan Riechers, head of Investment Management Logistics at Union Investment.
The new logistics facility is being built at Dutch Fresh Port, a location with a clear focus on the agricultural and food industry, including fresh produce logistics. In addition to around 31,000m² of logistics space, the property will feature more than 2,500m² for offices, changing rooms and a canteen. Somerset Capital Partners is developing the logistics centre to meet high standards of sustainability. BREEAM Excellent certification will be sought for the property.