Aviva buys two warehouses in Netherlands from Delin

Aviva Investors has acquired two institutional-grade logistics assets in the Netherlands.

Financial details were not disclosed.

The global asset management business of Aviva purchased the buildings from logistics developer, Delin Property.

The assets comprise a combined 61,463 m2, and are located in Tilburg-Waalwijk and Waddinxveen, two major logistics hubs for both the Netherlands and Europe.

The asset in Waddinxveen is composed of 44,143 m2 and features good transport links to the Port of Rotterdam, Amsterdam, Utrecht, The Hague and Germany. Developed in 2011, the asset is leased to a logistics service provider focused on food, beverages and retail.

The second asset is located in Tilburg-Waalwijk, a leading logistics hub in the Netherlands thanks to its strategic location between the ports of Rotterdam and Antwerp. Constructed in 2014, the property covers 17,320 m2. It is leased to a leading developer and supplier of mechanical-packaging technologies and systems for manufacturers and suppliers.

Daniel McHugh, managing director, real estate, Aviva Investors, said: ‘The Netherlands is one of Europe’s most established logistics locations and we are delighted to build our presence in such a significant market. Both facilities align well to our pan-European real estate investment strategy, occupying prime locations for distribution at both a national and international level.’

Tijs Derison, managing director Benelux, of Delin Property, stated: ‘Delin will look to recycle the proceeds from this transaction in order to grow our portfolio in The Netherlands further, in line with our strategy. We congratulate Aviva Investors with the acquisition of these two high-quality buildings located in two well-established logistics hotspots in the Netherlands.’

Aviva Investors Real Assets was advised by Savills and DLA Piper. Delin Property was advised by CBRE, CVO and CMS.

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