Europa Capital, together with its joint venture partner, ARC Real Estate Partners, has sold a light industrial portfolio of 15 assets in the Netherlands on behalf of its value add fund, Europa Fund VI, to Boreal.
The portfolio, which constitutes the entirety of the fund’s Dutch Light Industrial Platform (DLIP), comprises a total of c. 143,000 sqm of lettable space across 15 buildings that are rated BREEAM ‘Very Good’ or ‘Good’.
Situated in 15 cities across the Netherlands, the portfolio is 95% occupied with a WALT of 5.66 years.
DLIP was established in 2021 targeting investments in locations where there is strong occupier demand for light industrial space close to urban areas in the Netherlands.
Jason Oram, Partner & Fund Manager at Europa Capital, commented: “The sale of DLIP is in line with our business plan and generates strong returns for the Fund’s investors. Since the launch of the platform, we have assembled a portfolio of high quality units, including three assets that we developed speculatively and subsequently leased, which are let to strong occupier covenants, and have increased in value. Working with our local operating partner, ARC Real Estate Partners, we were able to source a buyer for the portfolio off market, demonstrating its institutional appeal.”
