The Standard Life Investments European Real Estate Club has entered into the forward funding of a 23,000 m² logistics warehouse in Vianen, in the Netherlands.
The fund will invest c. €16m in the project, which is expected to be completed by January 2018. This is the second significant investment that Standard Life Investments has made in Vianen. In June 2016, its European Real Estate Club invested €25m in the forward funding of a 33,000 m² logistics facility in the city, in conjunction with development partner, E-Prop. The scheme was completed by contractor Sprangers in March 2017.
Daniel McHugh, Head of Continental European Real Estate, Standard Life Investments, commented: “This deal underlines our continued confidence in the Dutch logistics market. It’s our second forward funding in Vianen and demonstrates our ongoing belief in the strong fundamentals of the Dutch economy.”
Euro Club III is a closed-end real estate investment vehicle that focuses on core markets in continental Europe.
Cushman & Wakefield and Loyens & Loeff acted for Standard Life Investments.
