Aberdeen makes first 2019 acquisition
Aberdeen Standard Investments’ European Property Growth Fund (EPGF) has agreed its first transaction of 2019 to forward fund a new 43,000-square-meter (463,000-square-foot) distribution center in Venlo, the Netherlands.
EPGF will invest €31.67 million ($35.81 million) to acquire the property at Trade Port Noord business park from H. van den Boogaard Projects B.V. who had purchased the site from Ontwikkelbedrijf Greenport Venlo. This transaction is the fund’s third logistics development in the Netherlands and the second investment in this location, taking investments in the Dutch market to over €160 million ($181 million).
The completed center will deliver a total of 39,100 square meters (420,870 square feet) of state-of-the-art logistics accommodation, a 2,760-square-meter (29,700-square-foot) mezzanine, 1,100 square meters (11,840 square feet) of office space, and parking for 175 cars. It will be divided into two separate units of equal proportions.