PORTFOLIO OF 13 LOGISTICS WAREHOUSES TOTALLING 2 MILLION SF (190,000 SQ M) ACQUIRED
LONDON, October 5th 2015 – Gazeley (Brookfield Logistics Properties), a leading global investor and developer of logistics warehouses and distribution parks, has today confirmed the acquisition of a portfolio of 13 logistics warehouses in the Netherlands totalling more than 2 million SF (190,000 SQ M). The deal represents Gazeley’s first investment in the Netherlands and is intended to form the core of a growing logistics platform in the country.
The portfolio was acquired from Eurindustrial N.V., a Dutch real estate fund, and includes 13 properties spread across the major logistics hotspots in the Netherlands including Amsterdam, Venlo, and Venray. The individual buildings range in size up to 310,000 SF (29,000 SQ M).
The assets within the portfolio have a high occupancy rate and are currently leased to a variety of leading logistics and distribution companies many of whom are already part of Gazeley’s growing customer community, including UPS, Syncreon, Canon, and ND Logistics.
This transaction is the third major portfolio acquisition completed in the last 12 months.
The total number of assets owned and managed by Gazeley in Europe and China today stands at 13,440 million SF (1,249 million SQ M) with the company now present in seven countries in Europe.
Speaking about the announcement Chief Acquisitions Officer Nick Cook said “This major portfolio acquisition gives us a great platform from which to build our presence in the Netherlands and increases our assets under management considerably. Notably this transaction demonstrates our ability to develop a scale operation quickly in new geographies from which we will serve both existing and new customers.”
Jan Brouns CEO, speaking for Eurindustrial N.V., commented “The portfolio that Gazeley has acquired is of good quality, with modern assets situated in, and around, key transport hubs in the Netherlands. Gazeley’s professionalism through this whole process has helped to ensure a very smooth transaction.”
Gazeley were advised by DTZ Zadelhoff. Legal advice was provided by DLA Piper, whilst Tauw and ChandlerKBS provided environmental and technical advice respectively to the Buyer. Eurindustrial were advised by CBRE, legal advice was provided by Houthoff, tax advice by Deloitte, while CVO provided technical support to Eurindustrial.
Gazeley (Brookfield Logistics Properties) is one of the world’s leading investors and developers of logistics warehouses and distribution parks with 57 million square feet of premier assets under management and additional prime land sites to develop another 50 million square feet of distribution facilities near major markets and transport routes in North America, Europe and China. As part of Brookfield Property Partners, we belong to one of the world’s largest and most sophisticated owners, operators and investors in real estate.
For more information, please visit our website at www.brookfieldlogisticsproperties.com
Tel: +44(0) 20 7903 0674