Transactions - JULY 29, 2022

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€3b Boreal IM, Cadillac Fairview JV acquires 15 Dutch warehouses

by Andrea Zander

The Boreal IM & Cadillac Fairview Joint Venture has closed its third deal, acquiring a logistics portfolio in the Netherlands for an undisclosed sum. Purchased from Europa Capital, the 142,000-square-meter (1.5 million-square-feet) portfolio comprises 15 warehouses across four regions, with the majority being last-mile distribution centers.

The joint venture, which aims to assemble a €3 billion ($3.1 billion) pan-European logistics portfolio, made its first two acquisitions earlier this year – the Nucleus Estate in Park Royal, West London, and six warehouses within the Port of Rotterdam, for a combined total of €250 million ($255 million).

The majority of the properties were built during the last 15 years, with two newly constructed last-mile assets in Amsterdam completed earlier this year. The assets are located in densely populated, supply constrained markets with a majority located in the Randstad, an 8.4 million people metropolitan area with a GDP per cap

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