Valor Real Estate Partners and QuadReal Property鈥檚 European logistics venture has made its first Amsterdam development site acquisition, with plans to build a 鈧�60m distribution centre.
The partnership has acquired the West Amsterdam site from Intospace for the 33,000sqm project.
Matthew Ganas, SVP at Valor, said: 鈥淭his transaction further reinforces our high-conviction thesis that developing best-in-class last-mile logistics and distribution space in supply-constrained markets can generate significant alpha.
鈥淭he Amsterdam market in particular is well positioned to continue outperforming other European markets, as a result of the encouraging economic outlook and ongoing e-commerce penetration, with relatively tight supply set to be exacerbated by ongoing regeneration initiatives transforming much of the existing industrial stock inside the main ring road into new homes.鈥�
Thomas Blangy, SVP at QuadReal Property, said: 鈥淭his is the first development acquisition for our joint venture in the Netherlands, and aligns with our global investment strategy of targeting high-growth logistics hubs in key target markets, as Amsterdam is one of the most attractive markets in Europe.
鈥淭ogether with Valor, we have built a robust portfolio of high-quality, well-located industrial assets across Europe and the UK and, once completed, this site will bring our partnership footprint to over 615,000sqm.鈥�
To read the latest 麻豆映画 Real Assets magazine click here.
