Investment management firm Cording Real Estate has acquired a portfolio comprising two light industrial assets and a small logistics property in the Netherlands for the Cording Euro Industrial real estate fund.
Financial details were not disclosed.
The properties have a total lettable area of around 10,500 m2 and are located near major gateways and transport axes in the Netherlands. The small logistics asset is located in Utrecht, alongside the A2 motorway. The light-industrial assets are located in Zwolle and Cuijk. The portfolio is fully let to three tenants.
René de Heus, head of investment Benelux at Cording, commented: 'The acquisition of these assets is a perfect addition to the fund’s existing portfolio.
'Due to their high quality, combined with their long lease terms and stable secured cash flows, this acquisition is in line with the fund’s initial portfolio strategy. We aim to acquire further industrial and logistics properties for the fund.'
The fund has a core plus risk profile and is aimed at institutional investors.
Cording was advised by Van Doorne, SGS Search and Colliers International.
Bart Oerlemans, Colliers head of industrial & logistics added: 'We have initiated and advised Cording on the acquisition of three assets in Utrecht, Zwolle and Cuijk. This transaction is the second phase of a larger total.
'We have acquired eight assets with a total volume of around 36,000 m2, all high quality assets with solid tenants. This transaction shows the confidence of international investors in the light industrial investment market.'