Pan-European real estate firm Europa Capital has bought five logistics properties in the Netherlands from Dutch property company Altera Vastgoed for an undisclosed sum.
The 78,100 sqm portfolio is fully let and leased to six tenants at rents below the market tone, according to the firm.
The five logistics assets are situated along a key distribution corridor between the port of Rotterdam and the German border at Venlo.
Andy Watson, partner and fund manager at Europa Capital, said: “With the Dutch economy remaining in robust health and seeing rapid growth in both e-commerce and logistics demand, we see an opportunity to use our asset management expertise to grow this income over the short to medium term.”
The acquisition was seeded with capital from Europa’s principal shareholder Mitsubishi Estate.
In November, Aviva Investors acquired two major logistics hubs in the Netherlands from real estate firm Delin Property, while Invesco and Barings bought logistics centres in Germany and Italy respectively.
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