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.