AEW has completed the off-market acquisition of two fully let class A logistics assets, SLEGO 1 & 2, comprising a total of 28,000 square meters (301,000 square feet), in the Westpoort area of Amsterdam on behalf of a separate account mandate for a German pension fund. The transaction represents the mandate’s first investment in the Netherlands.
The acquisition has been structured as two separate sale-leaseback transactions with 10-year firm triple-net leases on each property. One of the properties is occupied by subsidiaries of B&S Group, the consumer goods distributor, which is listed on the Euronext Amsterdam and majority owned by the vendor.
Developed for the vendor in 2017 and 2014 by Minerva Development, SLEGO 1 & 2 have been built to a high-quality standard with 22 loading bays, LED lighting and ancillary office space. Solar panels are also installed on the roof of SLEGO 2, with both properties scoring high energy ratings of EPC A (SLEGO 1) and A++
