PATRIZIA buys prime logistics asset in Netherlands for €73m

PATRIZIA AG has acquired a 52,572-square-meter (565,850-square-foot) logistics asset in Tilburg, the Netherlands, for approximately €73 million ($90 million) in an off-market transaction, on behalf of clients investing in its PATRIZIA Logistik-Invest Europe III Fund.

The asset has been purchased from DOKVAST B.V., an investor and developer that specializes in smart and sustainable real estate. This latest acquisition brings PATRIZIA’s entire logistics portfolio to more than €5 billion ($6.1 billion) in assets under management.

Tilburg is regarded as one of the best logistics locations in Europe, due to its proximity to the ports of Antwerp and Rotterdam, as well as the direct access it provides to Germany and the rest of continental Europe. The state-of-the art facility is fully let to a wholly owned subsidiary of sportswear manufacturer Puma.

Alexander van Gastel, who led the transaction for PATRIZIA, said, “The sustained and rapid growth in e-commerce,