Singapore-based real estate fund manager Elite Partners Capital has purchased a warehouse in the Netherlands from an unnamed private investor.
This comes shortly after its acquisition of a distribution facility in Wrexham UK, announced just earlier in the month.
Elite Partners said this marks its first foray into the Dutch logistics market.
The warehouse asset is located at Nunspeet, a city just outside the Randstad area in the middle of Netherlands. Located alongside the A28 motorway, it serves as one of multiple industrial/logistics hubs that connects the Randstad area with the northeastern provinces and the northern part of Germany. The asset sits within the Feithenhof business park which has a total size of approximately 27.7 hectares and comprises a mix of local industrial businesses alongside internationally operating occupiers.
The warehouse provides a gross floor area of 30,817 sqm on 55,108 sqm of land. It is fully let to B&C International B.V., one of Europe’s leading suppliers of custom and ready-made window treatments. B&C is one of North America’s Springs Window Fashions’ residential brand. The asset is used largely for sorting and distribution and also houses B&C’s headquarters.
The transaction is part of the second series of EPC’s Logistics Fund and is the firm’s first acquisition in the Dutch market.
“The Netherlands is one of the top logistics markets in Europe, underpinned by efficient ports and well-established logistics infrastructure. We are excited to announce our first acquisition within the Dutch market and look forward to growing our footprint here due to its strong fundamentals and logistics demand,” said Victor Song, CEO of Elite Partners Capital.
Elite Logistics Fund II continues to focus on building a portfolio of high-quality logistics warehouse or infrastructure across Europe and the UK.
