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