IDI Gazeley, the global logistics business owned by Brookfield, has bought 13 logistics warehouses as it establishes a presence in the Netherlands.
The acquisition of more than 2m sqft of logistics space is its first investment in the country and is intended to form the core of a new Dutch platform.
IDI Gazeley is now present in seven European countries, and it owns 13,440m sqft of space in Europe and China.
The Dutch portfolio was acquired from Eurindustrial, a Dutch real estate fund, and is spread across a number of locations, including Amsterdam, Venlo and Venray.
IDI Gazeley, , said the portfolio has a high occupancy rate and is leased to leading logistics and distribution companies, including UPS, Syncreon, Canon and ND Logistics.
Chief acquisitions officer Nick Cook said: 鈥淭his major portfolio acquisition gives us a great platform from which to build our presence in the Netherlands and increases our assets under management considerably.鈥�
IDI Gazeley was advised by DTZ Zadelhoff, which, it was announced today, is being acquired by Cushman & Wakefield.
