DCAM Sews Up 100,000 sqm of Leasing Activity Across European Portfolio

Delin Capital Asset Management (DCAM or the ‘Company’), a leading real estate Company focused on European logistics is pleased to announce the completion of circa 100,000 m² of leasing activity across its European portfolio in four separate deals in last few months. The transactions completed are:

  • At Waalwijk in the Southern Netherlands, DCAM has agreed a new 12 year lease with Airopack, part of the Kelders group at the 17,340 m² distribution facility. The new lease follows the recent bankruptcy and administration of the previous tenant.
  • At Beiraweg 2-8 Amsterdam Port, DCAM has agreed a lease renewal on its 40,000 m² logistics property with the Fetim Group maintaining a 100% occupancy in their Amsterdam portfolio.
  • In Eindhoven, Netherlands, DCAM has secured a lease renewal with existing tenant Philips Lighting BV in the 19,900 m² facility, extending the lease to mid-2020.
  • Finally, at DCAM’s 222,000 sq.ft Agecroft Commerce Park facility in Manchester, DCAM has agreed a re-gear with Bunzl Retail and Healthcare Supplies Ltd, extending the lease to 2027.

Ekaterina Avdonina, Managing Director of DCAM commented:

“We have had a busy year to date in terms of asset management, working with both existing tenants and new ones, in the case of Airopack. This has led to us lengthening the portfolio lease length and improving the income, underpinning the overall quality of our European distribution portfolio and delivering on our business plans.”


Strengthening Dutch Presence

DCAM, a leading real estate company focused on European logistics, today announces the appointment of Gerwin Vos as Commercial Director. Gerwin’s appointment coincides with the opening of a new office in Rotterdam, bringing DCAM’s international real estate presence to ten people across London and the Netherlands.

Gerwin joins DCAM with over 20 years of experience in the logistics sector, having joined from DTZ Zadelhoff, where he served as Director Logistics, with a key focus on both the occupier and investment markets across the country. During his 13 year tenure at DTZ Zadelhoff, Gerwin was responsible for operations spanning the Netherlands, managing a team of six real estate professionals. Prior to joining DTZ Zadelhoff, Gerwin also served as a senior agent in commercial real estate. In his new role, Gerwin will be responsible for all new commercial activities.

Ekaterina Avdonina, Chief Executive at Delin Capital Asset Management, added:

“It is testament to the strength of our business that we have been able to attract talent such as Gerwin, who will play a vital role in our progress within the Netherlands and elsewhere in our target markets. Gerwin brings with him an unrivalled knowledge of the logistics market, and we look forward to working with him as we continue to source development and income accretive opportunities in key logistics hubs. Furthermore, this appointment now brings DCAM’s team to ten real estate professionals located across Europe which in addition to the opening of our new Rotterdam office, underpins both the strength and ambition for the business.”


DCAM Announces Strategy to Become Full-Service Western European Logistics Player

Delin Capital Asset Management Announces Strategy to Become Full-Service Western European Logistics Player Under Leadership of Ekaterina Avdonina

02 June 2016 – Delin Capital Asset Management (‘DCAM’ or the ‘Company’) has announced a new strategy to become a multi-faceted (full service) leading European logistics real estate company, under the leadership of Ekaterina Avdonina. The company was established in 2012 to focus on the acquisition and management of core logistics assets in the UK and Western Europe on behalf of investors.

Ekaterina has been appointed managing director DCAM, succeeding Christian Jamison who left the business to pursue other interests. She has a strong track record in the logistics sector having been the CIO since the Company’s inception and has been integral in growing the Company’s assets under management to over €500m.

To date the Company has acted as an asset manager, making investments on behalf of clients solely into prime logistics assets in the UK and Benelux. Currently the Company manages a portfolio providing over 550,000 m² of warehouse and distribution space.

Under Ekaterina’s leadership the Company’s strategy will evolve to encompass the development, ownership, and active management of best in class warehouse and last mile urban logistics distribution properties which are well located and which are set to benefit from increasing growth in e-commerce and Europe’s logistics supply chain. DCAM will aim to think innovatively and remain at the forefront of technological changes that impact and challenge the logistics real estate sector.

In an initial move towards this, the Company will start to engage in development and today is pleased to announce its first large scale speculative development in the Netherlands of a 40,000 m², €30 million GDV logistics warehouse close to the ports of Rotterdam and Moerdijk. The prime location is attractive for DCAM because of current low vacancy rates and strong take up.

The Company is also pleased to announce a number of new appointments, providing further strength and expertise to the business.

  • Bart de Sitter has joined as development director. Prior to joining DCAM he held various roles in construction and development companies focussed on logistics and industrial.
  • Amos Chia has joined the investment team and will be responsible for identifying and underwriting new acquisitions. He joins from Revetas where he was a Senior Investment Analyst.

Commenting, Ekaterina Avdonina, managing director, DCAM, said:

“I am excited to be leading the next phase of DCAM’s evolution which will see it become a full-service Western European logistics company, building on our existing expertise and track record in the sector. We firmly believe that logistics assets (both big box and urban units) will continue to benefit from strong occupational demand supported by the structural shifts that are taking place in the purchase and delivery of goods driven by E-commerce. With a strong team in place, we are well positioned to identify further investment and development opportunities in order to grow our business and to become a key player in the European market.”


Christian Jamison to leave Delin Capital Asset Management

Following the successful completion of the CPP1 Fund, a portfolio of sixteen prime, income producing, logistics assets in the UK and the Netherlands, Christian Jamison has chosen to pursue other projects outside of DCAM.

He will be leaving the business in February and will handover his duties to Ekaterina Avdonina, who will assume the role of CEO on his departure.

Christian has been instrumental in building the DCAM business and delivering the CPP1 Fund, and we thank him and wish him well for the future.


Strengthening Our Team With Appointments of Andy Colman and Jonathan Gardner

Delin Capital Asset Management, (‘DCAM’ or the ‘Company’), a Jersey registered real estate investment advisor and asset manager focused on investments in logistics assets in the UK, the Netherlands and Belgium, announces two senior appointments to strengthen its team.

Andy Colman joins the Company as Finance Director. He comes with over 25 years of experience within the fund management, real estate and investment sectors, having originally trained as a Chartered Accountant with PwC. His experience within the real estate sector encompasses three years as Finance Director of Aerium Finance where he oversaw over £600 million of investment into the UK office market. Prior to this, Andy served as European CFO for CBRE Global Investors, where he managed financial operations across five European offices, in addition to structuring and launching a number of Pan-European and UK value-add and core funds. He also supervised the business’ administration and investor reporting.

Jonathan Gardner, a former Regional Director of Ashtenne’s £500 million Industrial Fund, brings with him a proven track record of identifying and negotiating new acquisitions and commercial leases in the industrial and logistics sector. Having also spent nine years managing Warner’s £300 million Radial Fund, Jonathan oversaw all investment into the UK logistics property market. Most recently Jonathan worked for Mapeley Estates Ltd, where he headed a portfolio of 300 assets within the UK.

Christian Jamison, Chief Executive at Delin Capital Asset Management, added:

“As Delin Capital Asset Management maintains its commitment to expansion, it is essential that the strength and depth of our team grows with it. Andy and Jonathan are fantastic senior additions to our business, and their combined industry experience and knowledge will provide us with an invaluable insight and expertise in logistics and fund management, which we will look to leverage as we continue to grow.”


Delin Capital Acquires G-Star RAW Distribution Centre

In a Sale and Leaseback Transaction will be The Fund’s Second in The Port of Amsterdam.

Delin Capital Asset Management (‘DCAM’ or the ‘Company’), a Jersey registered real estate investment advisor and asset manager focussed on logistics assets in the UK, the Netherlands and Belgium, has acquired for its clients a high specification warehouse in the Port of Amsterdam through sale and leaseback transaction with G-Star Raw, the jeansretailer.

The 37,000 m² modern property, which was built by G-Star within the last two years, is used as the global e-commerce and fulfilment centre for G-Star Raw. It is let on a full repairing lease with an unexpired weighted average term of 11 years.

The transaction represents the second acquisition by DCAM in the Amsterdam port, following its purchase of Casablancaweg 8, a 107,000 m² multi let logistics asset in December 2014. With this latest purchase, DCAM’s total portfolio in the Netherlands extends close to 380,000 m² of prime modern logistics space making DCAM one of the most active investors in Benelux logistics market over the last few years. DCAM’s total European logistics portfolio now comprises some 550,000 m² with a value of close to EUR 0.5 bn.

DCAM financed the acquisition with a new 5 year term loan from ING Real Estate Finance who also financed the purchase of Casablancaweg 8.

Christian Jamison, Chief Executive Officer of DCAM commented:

“This, our second sale and leaseback transaction, provides us with access to a high quality asset with a strong covenant, As retail patterns continue to shift towards the e-commerce market, we believe we are strategically positioned to benefit from this growth, having invested in core, well located assets. We look to continue to build relationships with strong tenants, such as G-Star Raw, and the structure of this agreement is one we would like to continue to replicate across the logistics market.“ “Furthermore, as the fourth largest port in Europe, this transaction supports our strategy to grow the Fund through identifying key strategic hubs like the Port of Amsterdam, which will continue to attract tenants and investors.” DCAM was advised by JLL, CVO and CMS, Nauta advised ING and Houthoff and DTZ advised G-Star.


Delin Capital Secures 212,000 sqft Letting to The Range

Delin Capital Asset Management, (‘DCAM’ or the ‘Company’), a Jersey registered real estate investment advisor and asset manager focused on investments in logistics assets in the UK, the Netherlands and Belgium, announces the letting of its 212,000 sq ft distribution centre at Swift Valley Park in Rugby to The Range on a 10 year lease.

The vacant building was acquired by DCAM as part of a portfolio acquisition and was refurbished prior to completing the letting.

The Range is one of the UK’s fastest growing homeware retailers, operating from retail parks and online, and will use the unit as a new distribution centre to satisfy its online orders. Swift Valley Park is strategically located within the UK’s logistics ‘Golden Triangle’ formed by the M1, M6 and M69 motorways.

Commenting, Christian Jamison of DCAM said:

“This transaction demonstrates the strong occupational dynamics for good quality distribution space driven by the continued growth in on-line retail sales.”

NRS and DTRE acted on behalf of DCAM.


Delin Capital Kicks Off the New Year with €40 Million Off-market  Netherlands Purchase

Delin Capital Asset Management, (‘DCAM’ or the ‘Company’), a Jersey registered real estate investment advisor and asset manager focused on investments in logistics assets in the UK, the Netherlands and Belgium, has acquired a 44,142 m² modern, high specification distribution warehouse in Waddinxveen, the Netherlands, through a €40 million sale and leaseback transaction from Van Uden Group, a privately owned European logistics operator. The asset was acquired for DCAM’s Capital Preservation Portfolio I, (‘CPP I’ or the ‘Fund’), the Company’s inaugural core plus logistics fund. It is the seventh Dutch asset acquired by the Fund and takes CPP I’s total investment to over €400 million.

The 44,142 m² freehold distribution warehouse was built in 2011 and it is situated in the established strategic location of Distripark A12, in the municipality of Waddinxveen, well positioned to benefit from neighbouring Rotterdam, Europe’s largest port. Van Uden Group has taken a new ten year lease, without breaks, on the warehouse and will use it to satisfy multiple food and beverage contracts for its clients, which include Nestle.

Christian Jamison, Chief Executive Officer of DCAM commented:

“Once again, we are pleased to have been able to capitalise on our reputation as being a strong transaction partner to source another deal off-market. This is a high quality, well located, modern logistics asset, which will generate attractive income returns for our investors. Furthermore, having acquired the asset using our existing cash resources, we can leverage the investment later in the year, with a view to making further acquisitions in the European logistics market when we identify suitable opportunities.”

Delin Capital was advised by Jones Lang Lasalle and CMS Derks Star Busmann.


Delin Capital Builds Portfolio with Major Netherlands Purchase

 Acquires 107,000 m² Logistics Asset in €75 Million Transaction

Delin Capital Asset Management, (‘DCAM’ or the ‘Company’), a Jersey registered real estate investment advisor and asset manager focused on investments in logistics assets in the UK, the Netherlands and Belgium, has acquired on behalf of its clients Casablancaweg 8, the largest, single owned logistics asset in the Netherlands for its €400 million Capital Preservation Portfolio I, (‘CPP I’ or the ‘Fund’). The asset was acquired off-market for a total cost of approximately €75 million from DHG Group, who was also the original developer of the asset.

ING Real Estate Finance, one of the most active financiers in the Dutch real estate market, has funded the acquisition through a new 5 year term loan.

The 107,000 m² logistics asset is strategically located in the port of Amsterdam, the fourth largest port in Europe. It was developed in phases from 2009 to 2011 and it is fully let to six high quality tenants, comprising a mix of manufacturers, retailers and logistics companies, including Fetim, GE Aviation, Heartland, NOV and KWE on a weighted average lease length of five years.

The acquisition is the second transaction between DCAM and DHG Group following the purchase of Distripark Sittard, Born in 2013.

Christian Jamison, Chief Executive Officer of DCAM, commented:

“This is a high quality, well located, modern logistics asset which typifies the sort of investment we favour for our Fund. The Dutch logistics market has become increasingly competitive and so we are very pleased to have secured another asset off-market from DHG. “Furthermore, this is the first time we have leveraged a deal at the outset and we are pleased to be working with such an active lender as ING. We look forward to working with both DHG and ING again as we continue to grow our portfolio of high quality logistics assets.”

DCAM was advised by JLL & CMS Derks Star Busmann. LOYENS & LOEFF acted on behalf of the vendor


Delin Capital Secures c.£70 Million Loan Facility from pbb Deutsche Pfandbriefbank

Delin Capital Asset Management, (‘DCAM’ or the ‘Company’), a Jersey registered real estate investment advisor and asset manager focused on investments in logistics assets in the UK, the Netherlands and Belgium, today announces that is has entered into a new circa £70 million five year term loan facility with pbb Deutsche Pfandbriefbank.

The new loan facility will be secured against a portfolio of eight prime UK logistics assets which are all modern distribution warehouses located in well-established logistics hubs throughout the UK. Comprising 1.77 m sq ft of space, the portfolio consists of:

  • Cabot Park Distribution Centre in Bristol let to Yankee Candle;
  • Agecroft Commerce Park Distribution Centre in Greater Manchester (Salford) let to Bunzl Retail and Healthcare Supplies;
  • Midpoint 18 Distribution Centre in Middlewich let to Kuehne and Nagel;
  • Wakefield Distribution Centre in Normanton let to EXEL UK;
  • West Moor Park Distribution Centre in Doncaster let to The Scotts Company UK;
  • Magna Park Distribution Centre in Lutterworth let to DHL Supply Chain;
  • A distribution centre in the West Midlands, fronting the M6 motorway, let to BTC Active Wear Ltd; and
  • Swift Valley Park Distribution Centre in Rugby which is currently vacant.

The assets are held within DCAM’s €400 million Capital Preservation Portfolio I (‘CPP I’ or the ‘Fund’) fund, its inaugural core plus logistics fund, launched in October 2012. Proceeds of the new loan facility will enable DCAM to continue to target income producing logistics assets across the UK and The Netherlands, to deliver CPP I’s investors secure, long-term, and potentially indexed linked income streams combined with real capital preservation. Christian Jamison, Chief Executive Officer of DCAM, commented: “We are very pleased to have been able to secure this new tranche of leverage which is directly in line with our strategy for CPP I as we remain focussed on the sustainable growth of the Fund. Having successfully leveraged our Dutch portfolio earlier in the year, we are now well placed to recycle further capital into new acquisitions to ensure we continue to deliver accretive capital returns to our investors. “The market opportunity in logistics in our target markets remains extremely compelling, driven by the number of well capitalised institutional investors seeking access to low risk, core income producing assets coupled with strong e-commerce and manufacturing trends. As such, and as a result of the success of CPP I, which we expect to reach its €400 million

Christian Jamison, Chief Executive Officer of DCAM, commented: “We are very pleased to have been able to secure this new tranche of leverage which is directly in line with our strategy for CPP I as we remain focussed on the sustainable growth of the Fund. Having successfully leveraged our Dutch portfolio earlier in the year, we are now well placed to recycle further capital into new acquisitions to ensure we continue to deliver accretive capital returns to our investors. “The market opportunity in logistics in our target markets remains extremely compelling, driven by the number of well capitalised institutional investors seeking access to low risk, core income producing assets coupled with strong e-commerce and manufacturing trends. As such, and as a result of the success of CPP I, which we expect to reach its €400 million

“We are very pleased to have been able to secure this new tranche of leverage which is directly in line with our strategy for CPP I as we remain focussed on the sustainable growth of the Fund. Having successfully leveraged our Dutch portfolio earlier in the year, we are now well placed to recycle further capital into new acquisitions to ensure we continue to deliver accretive capital returns to our investors."

“The market opportunity in logistics in our target markets remains extremely compelling, driven by the number of well capitalised institutional investors seeking access to low risk, core income producing assets coupled with strong e-commerce and manufacturing trends. As such, and as a result of the success of CPP I, which we expect to reach its €400 million target by the end of the year, we will look to raise new funds to ensure we remain well placed to capitalise on these attractive investment dynamics.”

DCAM was advised by CMS