Singapore’s Elite Partners Enters Netherlands Market With Warehouse Buy

The storage facility sits within the Feithenhof company park in the main Netherlands Elite Partners Capital on Tuesday revealed its acquisition of a storage facility in the main Netherlands, marking the Singapore-based fund supervisor’s entry into the Dutch logistics market. The property in the city of Nunspeet supplies a gross flooring location of 30,817 square metres (331,711 square feet) and is totally rented to B&C International, a provider of custom-made window treatments, Elite Partners stated in a release. Elite Partners is purchasing the storage facility for a concealed quantity less than a month after it exposed its purchase of a circulation center in Wales, as the company continues to collect a portfolio of commercial and business properties throughout Europe. “The Netherlands is among the leading logistics markets in Europe, underpinned by effective ports and reputable logistics facilities,” stated Elite Partners CEO Victor Song. “We are thrilled to reveal our very first acquisition within the Dutch market and eagerly anticipate growing our footprint here due to its strong principles and logistics need.” Going Dutch The purchase of the Nunspeet possession, from a seller determined just as a personal financier, was made on behalf of Elite Logistics Fund II, the 2nd in Elite Partners’ pan-European fund series targeting prime logistics possessions in high-growth and protective sectors. Victor Song of Elite Partners Capital The storage facility rests on 55,108 square metres of land within the Feithenhof service park, which acts as a channel in between the city core Randstad location and the northeastern Netherlands and northern Germany. The shed is utilized mainly for arranging and circulation and likewise consists of the head office of B&C, a domestic brand name of US-based Springs Window Fashions. In a year of record-breaking leasing activity, the Netherlands saw logistics take-up reach 6.9 million square metres in 2021, tracking just Germany (8.6 million) and Poland (7.3 million), according to information assembled by Savills. Dutch logistics stock increased by 10 percent in 2015, however the Netherlands stayed among the most undersupplied markets with a low job rate of 3.3 percent, the residential or commercial property consultancy stated in its European Logistics Outlook launched in February. European Tour Before its acquisition of the Welsh center for more than ₤30 million ($36 million) through Elite Logistics Fund II, Elite Partners had actually formerly gotten 4 UK business residential or commercial properties, consisting of an eight-storey office complex in Scotland’s biggest city of Glasgow in September 2020 for ₤70 million through its UK Commercial Fund III, which goes for properties under management of as much as ₤200 million. In August 2020, the Singaporean company revealed its acquisition of a PepsiCo storage facility near Warsaw for more than EUR30 million (now $307 million) from P3 Logistics Park, a completely owned subsidiary of Singapore sovereign wealth fund GIC. The Poland offer was made by means of the Macquarie-backed Elite Logistics Fund I, which purchased as lots of as 18 residential or commercial properties throughout Poland, Germany, Spain, Czechia and Britain prior to offering a lots properties to Blackstone for EUR520 million ($586 million) in late2021 Elite Partners was established in 2017 by investors consisting of Song, who had actually dealt with the financial investment group at ESR-REIT’s leader, Cambridge Industrial Trust, and later on functioned as head of possession management at Viva Industrial Trust, which combined with ESR-REIT in2018 This year, ESR-REIT combined with ARA Logos Logistics Trust to form ESR-Logos REIT.

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