Patrizia buys logistics asset in Tilburg, Netherlands for €73m

Patrizia buys logistics asset in Tilburg, Netherlands for €73m
Patrizia Tilburg Logistics

Patrizia has acquired a 52,572 sq m logistics asset in Tilburg, the Netherlands for €73 million in an off-market transaction, on behalf of clients investing in its Patrizia Logistik-Invest Europe III Fund.

The logistics asset in Tilburg is fully let to the current tenant, stichd – a wholly owned subsidiary of sportswear manufacturer Puma, underpinning the strength of the tenant covenant and providing a strong and stable income profile with a WALT of eleven years.

Patrizia said Tilburg is regarded as one of the best logistics locations in Europe, due to its proximity to the ports of Antwerp and Rotterdam, as well as the direct access it provides to Germany and the rest of continental Europe.

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“The sustained and rapid growth in e-commerce, as well as urbanisation and the on-shoring of manufacturing across Europe, continues to drive the demand for prime  logistics properties, especially in premium distribution hubs such as Tilburg. The strategic location of the property, between the ports of Rotterdam and Antwerp and the Rhine-Ruhr region of Germany, supports our conviction in this asset’s long-term potential. Its profile is well aligned to the objectives of PatriziaLogistik-Invest Europe III and we believe this investment opportunity which we sourced off-market thanks to our strong local team and expertise puts us on a good path for the year ahead,” said Alexander van Gastel, who led the transaction for Patrizia.

This latest acquisition brings Patrizia’s entire logistics portfolio to over EUR 5 billion in AUM.