German property investor Patrizia Immobilien has acquired a brand-new logistics property in Waalwijk in the southern Netherlands in a sale-and-leaseback transaction with Magna Tyres Group.
Financial details were not disclosed.
The deal for the 57,000 m2 asset was executed on behalf of Patrizia Logistik-Invest Europa II, which has a target volume of €700 mln.
'This property is another high-quality asset that underlines Patrizia’s continued interest in the pan-European logistics market, particularly the Netherlands, which is characterised by a limited supply of high-quality, modern warehouse space and increasing demand,' said Emile Poort, head of transactions Benelux at Patrizia.
'It is this demand that will fuel favourable contractual terms and rental growth, and that means value growth for our clients,' Poort added.
Built to a Breeam ‘Excellent’ standard, the warehouse is located at the Haven 8 business area in the Netherlands’ southern logistics corridor.
The deal follows the recent purchase of a cross-dock logistics portfolio in Germany, also for Logistik-Invest Europa II. Across Europe, Patrizia manages around €2 bn of logistics assets.
TLF Real Estate acted on behalf of Magna Tyres Group.