Rockspring Property Investment Managers (“Rockspring”), announces that, on behalf of TransEuropean Property Limited Partnership V (“TransEuropean V”or the “Fund”), it has acquired Trade Park Zuid Oost, Amsterdam, a 33,000 sqm multi-let industrial real estate. The property was purchased from Benelux Industrial Partnership, a portfolio managed by INTERNOS Global Investors, for €21,6 million. Trade Park Zuid Oost is a very high quality light industrial asset in an excellent location in the Zuid Oost area of Amsterdam, one of the city’s prime business districts, and is one of the largest and most prominent multi-let industrial estates in the Netherlands.
The deal follows Rockspring’s recent acquisition of the Zander portfolio, comprising 176,000 sqm of space across 11 multi-let industrial assets, from AXA Real Estate for €67.1 million. The 11 assets are all good quality properties located in the Randstad conurbation comprising Amsterdam, The Hague, Rotterdam and Utrecht. The Zander portfolio provides income diversity, being let to approximately 150 tenants.
Following the two acquisitions, Rockspring intends to manage the 12 properties as a combined portfolio, undertaking a proactive asset management programme to maximise income and values at the properties.
Jo de Clercq, Partner and Head of Transactions in Europe at Rockspring, said:
“Trade Park Zuid Oost is a light industrial asset in an excellent location, which we believe is well positioned to benefit from improving economic conditions in Europe, and the Netherlands in particular. The acquisition fits well with our strategy for the TransEuropean series, offering good income characteristics and the potential for capital growth, through active asset management. Combined with Zander portfolio, we believe that we have created a very high quality logistics portfolio with the potential to generate strong returns for our investors.”
TransEuropean V is the fifth fund in Rockspring’s TransEuropean series. Launched in 2012 with an ability to invest €700 million, the fund has been designed to enable investors to benefit from the re-pricing of the European property market and create a blend of core, high-cash-yielding core plus and value-adding real estate. To date, the fund has invested circa €500 million in France, Switzerland, Germany, Sweden and the Netherlands.
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Caisson Investment Management is FCA regulated.
Caisson Investment Management ( Netherlands ) BV
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3016 CD Rotterdam
T. +31 ( 0 ) 10 303 54 45
For more information:
Vincent Spruijt +31 ( 0 ) 10 303 54 45