Aviva Investors has completed the purchase of a warehouse in Eindhoven, on behalf of its clients. The vendor is Union Investment. The purchase price was not disclosed. The warehouse, which comprises more than 64,000m² of storage space, is located within the Goods Distributions Centre “Acht” of Eindhoven, an area considered to be the most established logistics market in the region and one of the most dynamic in the Netherlands. The facility is situated close to both the A2 and A67 motorways and the city’s international airport, whilst also lying adjacent to one of the main railroad arteries which provides direct access to Rotterdam harbour. The acquisition further expands Aviva Investors’ portfolio of logistics assets in the Netherlands, including a recently developed 20,000m² warehouse in Berkel en Rodenrijs and a 40,000m² warehouse within the port of Rotterdam. The asset manager also manages a number of office buildings in Amsterdam.
George Fraser-Harding, Fund Manager, Real Estate, at Aviva Investors, commented: “We are delighted to complete this acquisition, with the low site coverage and short lease lengths offering asset management opportunities in what we believe is a strong sector and location. Eindhoven is well-positioned in the centre of the country between the ports of Rotterdam and Antwerp and the Ruhr Valley, and therefore provides good opportunities for national and pan-European logistics. The deal is in line with our desire to invest in strategically important locations and that continue to build a strong and resilient European logistics portfolio.”
Aviva was supported in the transaction in legal and tax matters by DLA Piper. SGS Search provided the advice on technical details and M² Real Estate acted as commercial advisor to Aviva. Union was supported by Freshfields Bruckhaus Deringer, Savills and 3stone Real Estate acted on behalf of Union as commercial advisors.