Singapore-listed Frasers Property has acquired a logistics warehouse located in Meppel, the Netherlands, from its developer District54.
Purchased by its European arm, Frasers Property Investments, the warehouse has a total lettable area of approximately 31,000 m2 and was completed in May 2018. It is let on a long-term basis to Dutch dairy company FrieslandCampina.
Financial details were not disclosed.
'We are excited to add such a reputable company as FrieslandCampina to our international tenant base,' said Wulf Meinel, CEO of Frasers Property Europe.
'Following multiple acquisitions in Germany, this is the first acquisition in the Netherlands since Frasers Property acquired a controlling stake in Geneba Properties last year. This way we continue our focus on logistics assets in Europe’s core markets.'
The warehouse will be used by FrieslandCampina Ingredients to consolidate the business group’s logistics activities in the north of the Netherlands and replaces multiple warehouses currently in use.
Frasers Property was advised by Loyens & Loeff (legal and tax). FrieslandCampina and District54 were advised by CMS Derks Star Busmann (legal) and 3Stone Real Estate (commercial).