Europa Capital buys Dutch industrial portfolios for €35m

European real estate investment manager Europa Capital has acquired 19 light-industrial properties in the form of two portfolios, in the Netherlands, for €35 mln.

The buildings were purchased on behalf of Europa Capital’s Fund V’s recently launched, Dutch light-industrial platform, termed ‘dulip’.

The assets comprise a total area of 54,000 m2 across six locations in the Netherlands and are 97% let. The sites are in Helmond, Bergen op Zoom, Barneveld, Weesp and Oosterhout, and the Schiphol area. All are located in close proximity to transport hubs.

Local partner ARC Real Estate Partners has assumed responsibility for managing the dulip portfolio. It will grow the portfolio, focusing mainly on the densely populated Randstad area, the company said.

Welcoming the deal, James Fortescue, partner at Europa Capital, said: 'Dulip has been created to provide institutional investors looking for attractive cash on cash yields with a diverse investment product. There has been a significant drop in the supply of light industrial space in the Netherlands, which has been fuelled by limited development activity, due to rising build costs, and the loss of land to residential development.'

Dulip has a total investment capacity of more than €100 mln. Dentons advised the fund in both transactions.

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