Valad Europe, the leading diversified real estate investment manager, has sold a portfolio of 10 light industrial assets totalling 64,542 m² to MStar Netherlands 2 Holding. The trade was completed on behalf of the Valad European Income Fund, for which Valad recently secured a new €175 mln loan facility, concurrently with an extension to the Fund’s term.
The portfolio is located across the Netherlands and is let to more than 70 tenants, including Hertz, Hornbach, Rentokil Initial and Hilti.
Mark McLaughlin, Valad Europe's Head of Benelux, commented: “It is equally important for us to be able to identify the right time to sell assets as it is to purchase at the right price, especially in the current markets where there is a lot of investor interest in European real estate. This portfolio was traded following the completion of our business plans for the assets which included the completion of 55 lettings totalling approximately 35,000 m² and representing €1.8 mln of rental income.”
Source: Valad Europe