Circa 26,000 sq m building near Eindhoven is let to Friesland Campina on ten-year lease
2nd unit (around 28,000 sq m) under development with completion expected in early 2021
PATRIZIA's European logistics portfolio now totals over EUR 5 billion of AUM
Augsburg / Amsterdam, 21 October 2020. PATRIZIA AG, a leading partner for global real assets, has acquired a two-asset logistics scheme in Veghel, The Netherlands, on behalf of its institutional clients for around EUR 65 million from Next Level Development; a renowned logistics developer in the Netherlands.
The first unit, measuring 25,929 sq m, which was completed in April 2020, is let on a ten-year
lease to Friesland Campina, the largest dairy cooperative in the world. The second unit of 28,211 sq m is scheduled to be completed by early 2021. The building is equipped with 52 loading docks and four level access doors.
The asset is located in the Food Park Veghel, a logistics park, 20 kilometres north of Eindhoven, with a specific focus on agriculturally produced food and related sectors. The location benefits from excellent transport links due to its close proximity to the A50 and N79 motorways and the inland river barge terminal.
Alexander van Gastel of the PATRIZIA transactions team in The Netherlands, commented: 'This is an exciting, brand new asset that meets the growing demand for high quality logistics space in the region. Logistics has recently proven to be one of the most resilient real estate sectors. Covid-19 has accelerated existing e-commerce trends and so we are confident this asset will deliver long term secure income to our investors.'
PATRIZIA's European logistics portfolio now stands at over EUR 5 billion and represents around 11% of total AUM.
PATRIZIA: A leading partner for global real assets
As a company with operations around the world, PATRIZIA has been offering investment opportunities in real estate and infrastructure assets for institutional, semi-professional and private investors for 36 years. PATRIZIA manages more than EUR 45 billion in assets and employs over 800 professionals at 24 locations worldwide. Through its PATRIZIA Children Foundation, PATRIZIA is committed to social responsibility. The Foundation has helped over 220,000 children in need worldwide over the last 20 years. You can find further information at www.patrizia.ag
Phone: +44 7889 995604