Aviva Investors said on Thursday that it has acquired a newly developed 40,000 m2 logistics warehouse in the Netherlands on behalf of one of its mandates.
Financial details were kept confidential. The deal, which was signed on Wednesday, represents Aviva Investors’ third purchase of logistics assets in the region during the last six months, having acquired two institutional-grade logistics assets in Waalwijk and Waddinxveen in November last year.
Aviva Investors has purchased the property as a forward purchase from Euro-Rijn Group, letting to Rotterdam Polymer Hub, a subsidiary of Euro-Rijn, which has signed a long-term lease agreement for the entire facility to cater for its storage and distribution of polymers.
The building is located at Bosporusstraat 51 on the Distripark Maasvlakte within the port of Rotterdam. Consisting of two adjoining logistics buildings with accompanying office facilities, it has 40,000 m2 of total lettable floor area. The property was built integrating ESG criteria in its development, and is aiming to achieve a BREEAM rating of ‘Very Good.’
In December, Aviva Investors also announced its purchase of Keizersgracht 119 – 121 in Amsterdam.
George Fraser-Harding, of real estate investments, Aviva Investors, said: ‘Rotterdam is the largest transportation gateway to and from continental Europe, keeping this deal in-line with our desire to invest in strategically important locations as we look to build a strong and resilient European logistics portfolio.’
Aviva Investors was advised by M2 Real Estate, DLA Piper and Royal Haskoning DHV. The Seller was advised by Cushman & Wakefield, Taylor Wessing and Designlogic.