Delin Property’s Dutch logistics fund adds Wijchen asset to portfolio

Delin Property's Dutch logistics fund adds Wijchen asset to portfolio

Delin Property has purchased on behalf of its Dutch logistics fund a fully occupied 36,600 square metre warehouse in the strategic Arnhem-Nijmegen region in the east of the Netherlands.

The purchase price is not being disclosed.

Rob Reiskin, CEO of Delin Property, commented:”The disruption in today’s capital markets is presenting opportunities for us to acquire high quality properties at attractive prices. We believe that we’re in the beginning of a strong investment vintage.”

Delin Property Dutch Core/Core Plus Logistics Fund purchased the property in the Bijsterhuizen industrial park in Wijchen from a Deka Immobilien fund. Built in three phases, the last of which was in 2015, the building is occupied by printing supplies wholesaler ALSO International and Bikeurope, a subsidiary of Trek Bicycle Corp.

Raffi Killian, Head of Investments at Delin Property, said: “Having a strong local presence allowed us to source this investment off-market and we have agreed the deal with DEKA Immobilien on attractive terms. Both tenants are great covenants – Europe’s largest distributor of original printing supplies and one of the biggest bike brands in the world. Bikeurope has been a tenant since 2008. The property presents compelling opportunities for active asset management to enhance further the returns for the Fund’s investors.”

Wijchen is a strategic distribution hub because of its proximity to the heavily industrialised and most densely populated region of western Germany and its connectivity with major gateways for international trade for western Europe. Bijsterhuizen business park enjoys easy access onto the A73 motorway and Nijmegen’s barge terminal is a 10 minute drive away, linking to the transportation corridors from Rotterdam, Europe’s largest port, and the international air cargo hub at Schiphol airport.

The acquisition is the thirteenth asset in the portfolio of the Luxembourg-registered Fund, which invests in modern, logistics warehouses leased to strong performing tenants in proven multimodal distribution sites in the Netherlands. Delin Property co-invests in the Fund alongside institutional investors, mainly from the DACH region of German-speaking countries, and is aiming to grow the Fund’s portfolio to €600-700 million of assets.

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