Patrizia Immobilien has bought a new ultramodern logistics complex for € 59 million in the Port of Amsterdam from a Dutch developer. Patrizia made the purchase for the open-ended Patrizia Logistik-Invest Europe I investment fund. The property will become an urban distribution center for a Dutch trading company, which will lease the entire complex for a long-term. The completion of the facility is expected in January 2019.
As a result of this transaction, Patrizia’s logistics portfolio will expand to approximately € 400 million throughout Europe, including France, Belgium, the Netherlands and Germany.
Rob Brook, Head of Logistics Investment at Patrizia: ‘For institutional investors, the logistics sector has become very attractive in recent years due to the high demand for such spaces caused by e-commerce. In addition, logistics offers attractive returns compared to other sectors, offices and shops for example. For Patrizia, logistics as an asset class throughout Europe remains a focal area.’
“The complex comprises 70,000 m², which can also be divided into three units of approximately 23,000 m² each. It is Breeam-certified and located in an attractive location in the port of Amsterdam, only ten minutes from the city center and Schiphol Airport.
In this transaction Patrizia has been advised by 3stone Real Estate (commercial), Savills (technical) and Houthoff (legal). Appelhoven Vastgoedadviseurs and Lexence advised the seller, respectively commercially and legally.