Generali Real Estate makes first investment in Dutch logistics market

Generali Real Estate makes first investment in Dutch logistics market

Generali Real Estate has entered the Dutch logistics market with the purchase of DC De Burght, a prime logistics asset in Waddinxveen in The Netherlands.

The real estate asset manager acquired the property on behalf of the pan-European Generali Real Estate Logistics Fund (GRELF) managed by Generali Real Estate S.p.A Società di gestione del risparmio.

The seller of the asset is Wayland Real Estate BV.

DC De Burght is located in the Vredenburgh Business Park in Waddinxveen, a strong logistics hotspot in the heart of the Randstad conurbation, which comprises the main cities in The Netherlands representing one of the largest metropolitan areas in Europe.

The location has a direct access to the port of Rotterdam and to the Amsterdam and Rotterdam intercontinental airports, as well as to barge and rail terminals.

The asset, completed in December 2021, comprises 26,000 sqm, and is fully let to TFC Holland BV, a major distributor of fresh fruit and vegetables in The Netherlands, Belgium and Germany, as their main base of operations.

BREEAM In Use certification of the asset is ongoing, targeting level ‘Very Good’. Generali Real Estate’s in-house sustainability assessment tool confirmed the ESG features of the asset, with a focus on energy performance: it is equipped with photovoltaic panels, a cooling system using only renewable energy and LED lighting, with EPC ‘A’ rating for the portion dedicated to office. Great attention is also paid to the wellbeing of the occupants.

The acquisition of DC De Burght marks the entry of Generali Real Estate in the Dutch logistics market, and confirms the company’s commitment to the European logistics segment, the company said.

The GRELF fund targets high-quality logistics assets in well-established areas with excellent accessibility, in major European logistics hubs, and has recently invested in assets in France and Poland with these characteristics.

Pierre-David Baylac, Head of Logistics Region at Generali Real Estate, commented: “We are continuing our steady expansion in the European logistics sector through our panEuropean dedicated fund GRELF, whose assets under management are now surpassing €860 mln, comprising 32 properties. DC De Burght, the fund’s first acquisition in the Dutch logistics market, is perfectly in line with the strategy of investing in high-quality assets in strategic locations with strong growth potential. With this acquisition, and more to come during this year, we are further strengthening a logistics portfolio comprising assets in France, Italy, Poland and now The Netherlands.”