Constructed in 2004 and subsequently refurbished in 2021, the 5,069 m2 Dijon property sits on a total plot size of 27,000 m2. Located in the municipality of Gevrey-Chambertin, just ten kilometres from Dijon on the main logistics ‘backbone’, the freehold asset has been acquired for €9.3 mln, reflecting a net initial yield of 4.2%. The property benefits from excellent arterial connectivity, with direct access to the A39 connecting to the A31 and A36 to Lyon, providing links to the wider Alpine road network.
 
The building is leased to Dachser Intelligent Logistics, the German-owned global third party logistics provider founded in 1930, operating as Dachser France, on a ten year term.
 
Constructed in 2005, the Horst property was identified earlier in the year. It totals 6,900 m2, including office space, and has been acquired for €12.1 mln as part of a sale and leaseback deal with Limax, a producer, packager and distributor of soft fruits and mushrooms.

Serving as its headquarters, the tenant critical asset with cold storage lies between Venlo and Venray, an area which is well known for its agrofood and agricultural businesses. It is considered the gateway to the European hinterland, close to barge and rail terminals and the A73 to Nijmegen and A67 to Antwerp/ Duisburg.
 
The freehold property, which covers a total land plot of 40,500 m2, provides scope for future extensions and benefits from a ten year lease term subject to annual CPI capped indexation, with the price reflecting a net initial yield of 3.8%.
 
Evert Castelein, fund manager for ASLI, commented: ‘These assets fit with our strict investment criteria, being excellently located with direct access to major routes and standing on large plots allowing for future expansion. The portfolio now totals 28 properties across five countries, adding further diversity to our strategy.’
   
The purchases have been financed through cash reserves and expected additional asset level debt drawn with ING bank at 3.05% for a shorter three year term.