DCAM has completed a new €32m term loan financing facility with ING Bank in Amsterdam secured against its high specification distribution warehouse in Waddinxveen, the Netherlands.
Located in the established strategic location of Distripark A12, in the municipality of Waddinxveen, the 44,142m² warehouse benefits from its proximity to Rotterdam, Europe’s largest port. It is let in its entirety to Van Uden Group, which uses it to satisfy multiple food and beverage contracts for its clients, which include Nestle. The asset was originally acquired in 2015 on behalf of DCAM’s Capital Preservation Portfolio (‘CPP I’ or the ‘Fund’), the Company’s inaugural core plus logistics fund.
Following this transaction, DCAM has now completed the financing of all of its €500m CPP I assets which comprises 16 properties in total located in the main transport hubs and corridors of the UK, Benelux and the Netherlands. Proceeds of the loan are expected to finance future investment acquisitions and DCAM’s growing development pipeline.
Ekaterina Avdonina, managing director of DCAM commented: “Having successfully completed the financing of our investment portfolio, we now look forward to recycling this capital into new transactions and developments that will continue to deliver a strong total return to our investors.
“The logistics market remains extremely compelling and DCAM will continue to focus exclusively on this asset class, investing in areas which are set to benefit from the increasing growth in e-commerce and Europe’s logistics supply chain.”
Arie Hubers, head of ING Wholesale Banking Real Estate Finance, CC NL: ‘We are pleased that we can expand our relationship with Delin by this facility and support the company in its growth going forward. The transaction fits within ING’s strategy to maintain longstanding relationships with leading asset managers of logistic assets and grow our exposure to the sector.”
