Cording Real Estate Group has acquired an existing industrial portfolio in the Netherlands, comprising four properties with a total lettable area of c,22,300m². The vendor is Focus Real Estate. Cording will be taking over the investment and asset management of the properties. The overall portfolio is fully let and the existing leases have a weighted average unexpired lease term (WAULT) of more than ten years. The purchase price was not disclosed.
Two of the properties are located in Eindhoven. Parkforum 1109, constructed in 2012, provides c. 5,850m² of accommodation. The rentable area in the nearby Parkforum 1119 - 1121, built in 2013, is 6,600m². Theemsweg 31 in Rotterdam-Botlek, which dates back to 2015, has an area of approximately 3,350m², while the fourth property is situated in Barendrecht, a suburb of Rotterdam and has a floor area of around 6,500m².
Rodney Bysh, CEO of Cording, commented: "The acquisition of this industrial portfolio is a logical continuation of our previous involvement in this sector. Based on our extensive experience in the light industrial and logistics real estate sector and the interesting growth potential of this asset class, we will increasingly acquire and manage properties in this asset class for our clients in the future".