The Standard Life Investments European Property Growth Fund L.P. (“EPGF”) has acquired a landmark logistics asset in the Netherlands – its second acquisition in the region. The Fund has acquired the Tasmanweg 2 unit, in the Dutch city of Venlo.
The 28,014 sq m (301,540 sq ft) unit occupies a prime location in Venlo, and boasts streamlined cross-docking warehouse facilities. It is fully let to global transport and logistics company DSV.
Commenting on the deal, Veronica Gallo-Alvarez, Fund Manager of the Standard Life Investments European Property Growth Fund, said: “Venlo is one of the key logistic and transport sites in Europe. We are delighted to have acquired this first-class logistics asset. This acquisition is in line with the Fund’s strategy to target long-term stable income returns as a main driver of performance and to be in a position to exploit markets with potential for capital growth.”
Cushman & Wakefield acted for Standard Life Investments; JLL acted for the vendor.