Patrizia Immobilien is buying a 57,000sqm logistics property in the Netherlands from Magna Tyres Group in a sale and leaseback deal.
The pan-European real estate investor鈥檚 Logistik-Invest Europa II fund has agreed to buy the newly built asset in Waalwijk for an undisclosed sum.
Emile Poort, head of transactions Benelux at Patrizia, said: 鈥淭his property is another high-quality asset that underlines Patrizia鈥檚 continued interest in the pan-European logistics market, particularly the Netherlands, which is characterised by a limited supply of high-quality, modern warehouse space and increasing demand.
鈥淚t is this demand that will fuel favourable contractual terms and rental growth, and that means value growth for our clients.鈥�
The latest acquisition follows the recent purchase of a logistics portfolio in Germany, also for the 鈧�700m Logistik-Invest Europa II fund. Across Europe, Patrizia manages almost 鈧�2bn of logistics assets.
