Europa Capital, the pan-European real estate investment manager, has acquired a logistics warehouse in Oss, The Netherlands, from a private seller for €28.3 mln.
Representing the firm's first deal of 2019, the acquisition grows the combined value of its core diversified income strategy, which is seeded with capital from Europa Capital’s principal shareholder, Mitsubishi Estate, to over €180 mln.
The property, which comprises 51,502 m2, is fully leased to XPO Logistics and is located in Oss to the south east of the Netherlands.
'This investment offers an excellent income return, especially when considering the strength of the occupational market in the logistics sector in the Netherlands at present, which is underpinned by the rise of e-commerce and changing consumer habits,' said James Farmer, transaction director at Europa Capital for core products.
'We continue to progress a pipeline of opportunities targeting further acquisitions in the office, logistics and residential sectors in our key country markets,' Farmer added.
The transaction follows the recent acquisition of a 21,054 m2 logistics facility in Tilburg, some 30 miles to the west of Oss, as part of the same investment strategy and takes Europa Capital’s core diversified income portfolio to four assets in France, Germany and the Netherlands.
'This marks our fourth investment for our core diversified income strategy, as we continue to build on the momentum achieved at the end of 2018,' added Andy Watson, partner at Europa Capital. 'The purchase of the XPO building in Oss reinforces our recent acquisition in Tilburg further growing our exposure to the Dutch logistics sector where we see strong relative value as well as future potential for long term growth.'
Europa Capital was advised by ARC Real Estate Partners and Lexence. The seller was advised by Van Doorne and Cushman & Wakefield.