CELOGIX Property Fund (Ã¢â¬ÅCELOGIXÃ¢â¬Â), the Euro Zone logistics and distribution property fund managed by Aberdeen Property Investors Continental Europe (Ã¢â¬ÅAPIÃ¢â¬Â), has made a further investment in the Netherlands with the purchase of a logistics project at Ã¢â¬ÅSallandsekantÃ¢â¬Â, Almere, for EUR 10.4 million. CELOGIX now has seven properties in the Netherlands; it also has investments in Germany, Belgium and France.
The property consists of 13,700 mÃÂ² of warehouse space and over 1,200 mÃÂ² of office accommodation. The property is let to TYC Brother Industrial Company Ltd from Taiwan on a 10-year lease. This industrial park is situated directly adjacent to the A6 motorway. Statement Real Estate advised CELOGIX. HVBM Vastgoed BV advised the selling party.
CELOGIX invests exclusively in logistics distribution centres at strategic locations in the Netherlands, Germany, France, Spain and Belgium. The fund manager, API has identified 30 hotspots in these countries as targets for investment. The fund now has EUR 252 million in 17 logistics properties (424,271 mÃÂ²) in four European countries. The target is to expand the portfolio to EUR 400 million before Q1 2004. Due to this target the fund is open for new investors. Currently eleven Dutch and two Scandinavian investors are participating in CELOGIX. The fund is transparent for tax purposes and is not quoted on the stock exchange. The minimum deposit is EUR 5 million.
Source: CÃ¢âÂ¬logix Property Fund