The GLIF+II Fund, with GARBE Industrial Real Estate Netherlands B.V. acting as an asset manager, has acquired a 38,106m2 logistics asset from DSV, in a sale and leaseback deal with DSV Solutions Nederland B.V.
The asset is located at the Aviation Valley business park in Maastricht, the Netherlands, within proximity of Maastricht Aachen airport.
DSV Solutions Nederland B.V. has signed a long-term lease for the entire property. GLIF+II pursues a core/core+ investment strategy, focusing on logistics and light industrial properties, including developments in mainly Germany, Austria and the Netherlands. The fund’s targeted volume is €1b. The open-ended “GARBE Logistikimmobilien Fonds Plus II” institutional fund is administrated by INTREAL.
Leyla Yildirim, Head of Investment Management at GARBE Industrial Real Estate Netherlands B.V., said: “Aviation Valley business park at Maastricht Aachen Airport provides excellent connectivity to the German Ruhr region, the Port of Antwerp-Bruges and the Randstad region. We believe that the acquisition fits perfectly into our strategy to acquire assets in the most strategic logistics hubs in the Netherlands and are happy
to welcome this tenant, one of the industry leaders in its field, DSV Solutions Nederland B.V.”
Louca Benders, Investment Manager at GARBE Industrial Real Estate Netherlands B.V., said: “We look back on an efficient transaction amid the current challenging investment climate, characterized by factors such as limited investable capital and increased financing costs. The deal is part of GARBE's ongoing growth strategy in the Netherlands, and shows that we are one of the market players still capable of serving
the real estate market and its stakeholders.“
The asset comprises of 31,542m2 warehouse, 4,693m2 mezzanine and 1,871m2 of office space. The asset has a BREEAM Excellent Certification and an A+++++ energy label. Solar panels will be placed on the roof and will generate sufficient renewable electricity for the tenant’s use.
GARBE Industrial Real Estate Netherlands B.V. was advised by Lexence (Legal), Drees & Sommer (Technical), and EY (Tax). DSV was legally advised by Dentons.
