Europa Capital, the pan-European real estate investment manager, has completed the acquisition of a portfolio of five logistics properties in the Netherlands from Altera Vastgoed. The acquisition is on behalf of its core diversified income strategy, which is seeded with capital from Europa Capital’s principal shareholder, Mitsubishi Estate.
The 78,100 sq m portfolio is 100% let and leased to six tenants at rents below the market tone. The five assets are located along the Netherlands’ key distribution corridor between the major port of Rotterdam and the German border at Venlo. The new assets complement the strategy’s three existing logistics properties in Tilburg, Oss and Eindhoven to create a platform totalling 160,000 sq m in the Netherlands and valued at over €120 million.
The core diversified income portfolio, with a value of over €265 million, includes fully let office assets in Paris and Munich and generates a total gross rent of almost €14.25 million. Further logistics and residential acquisitions will be the near-term focus of the investment strategy, which is aimed at attracting institutional investors from Europe, Asia and the Americas in order to grow the vehicle to over €2.0 billion in the coming years.
Source : Company