“This acquisition is a highly strategic one and creates a firm foothold within the Netherlands, one of our key target markets in the build-out of our pan-European portfolio. We were particularly attracted by the low in-place rents, which combined with the leases’ indexation provisions, will offer an attractive combination of defensive cash flows with material medium term upside."
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Urban Infill Portfolio, The Netherlands
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16 warehouses across four regions in the Netherlands
The majority of the properties were built within the last 15 years, with two newly constructed last-mile assets in Amsterdam completed earlier this year. The assets are located in densely populated and supply constrained markets with a majority located in the Randstad, an 8.4m people metropolitan area with a GDP per capita 60% above the Euro Area average. The portfolio, which is 95% leased to a diverse mix of tenants, has a WALB of 5.0 years and produces €8m of annual income.
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