Europa Capital, acting together with their joint venture partner, ARC Real Estate Partners, have sold a light industrial portfolio of 15 assets in the Netherlands, on behalf of its value add fund, Europa Fund V, to BOREAL.
The Portfolio, which constitutes the entirety of the Fund’s Dutch Light Industrial Platform, comprises a total of circa 143,000m² of lettable space across 15 buildings that are rated BREEAM ‘Very Good’ or ‘Good’. Situated in 15 cities across the Netherlands, the Portfolio is 95% occupied with a WALT of 5.66 years. DLIP was established in 2021 targeting investments in locations where there is strong occupier demand for light industrial space close to urban areas in the Netherlands.
Jason Oram, Partner & Fund Manager at Europa Capital, commented: “The sale of DLIP is in line with our business plan and generates strong returns for the Fund’s investors. Since the launch of the Platform, we have assembled a portfolio of high-quality units, including three assets that we developed speculatively and subsequently leased, which are let to strong occupier covenants, and have increased in value. Working with our local operating partner, ARC Real Estate Partners, we were able to source a buyer for the Portfolio off-market, demonstrating its institutional appeal.”
