Europa fund launches €150m Dutch distribution platform
Investment manager Europa Capital’s latest value-add fund has launched a new €150 million distribution property platform in the Netherlands.
The platform, which was launched following the acquisition of a €65 million seed portfolio, is the third in the series of country specific industrial and logistics investment platforms and follows the formation platforms focused on the UK and Germany.
Known as the Dutch Distribution Platform, it has been formed in partnership with Amsterdam-based ARC Real Estate Partners and has a target GAV of €150 million.
All three country focused platforms have been launched on behalf of Europa Capital’s latest value-add fund, Europa Fund VI. The fund has close to €600 million of capital commitments. It mostly focuses on the light industrial, logistics and living sectors and has deployed nearly half of its capital.
Nine-asset portfolio acquired in separate transactions
The Dutch Distribution Platform has an 847,000 sq ft (78,690 sq m) seed portfolio of nine assets which have been acquired in separate transactions by Europa Capital and ARC for €65 million in total. The assets are located in Oss, Tilburg, Den Bosch, Lelystad, Houten, Asten, Nieuw-Vennep and Almere and include eight fully let distribution buildings with a WALT of seven years and one forward funding project.
A previous Netherlands focused platform, the Dutch Urban Light Industrial Platform, also launched in partnership with ARC in 2019 on behalf of Europa Fund V, established a €144 million portfolio which was divested in July 2021 as part of the sale of a package of Dutch and German urban logistics and warehouse assets for €270 million.
Europa Capital has acquired 67 buildings in the sector for a total of €511 million since 2018, including €299 million in the Netherlands with ARC.
“The sector has proven its resilience during the pandemic, with strong occupier demand for well-located units continuing to drive rents,” Europa Capital partner Jason Oram, fund manager, commented.
