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Generali enters Dutch logistics market with Waddinxveen deal

Generali Real Estate has completed the acquisition of DC De Burght, a prime logistics asset in Waddinxveen in the Netherlands, on behalf of the pan-European Generali Real Estate Logistics Fund (GRELF) managed by Generali Real Estate.

The seller of the asset is Wayland Real Estate; financial details were not disclosed.

DC De Burght is located in the Vredenburgh Business Park in Waddinxveen, a logistics hotspot in the middle of the Randstad conurbation.

Pierre-David Baylac, head of logistics region at Generali Real Estate, commented: 'We are continuing our steady expansion in the European logistics sector through our pan-European dedicated fund GRELF, whose assets under management are now surpassing €860 mln, comprising 32 properties.

'DC De Burght, the fund’s first acquisition in the Dutch logistics market, is perfectly in line with the strategy of investing in high-quality assets in strategic locations with strong growth potential. With this acquisition, and more to come during this year, we are further strengthening a logistics portfolio comprising assets in France, Italy, Poland and now The Netherlands.'

The location has direct access to the port of Rotterdam and to the Amsterdam and Rotterdam intercontinental airports, as well as to barge and rail terminals.

The asset, completed in December 2021, comprises 26,000 m2, and is fully let to TFC Holland, a major distributor of fresh fruit and vegetables in the Netherlands, Belgium and Germany, as their main base of operations.

Source: propertyeu.info on the 12th of July