6 December 2019
Union Investment acquires planned logistics facility in Rotterdam area
Union Investment has acquired a 53,500 sq m logistics facility in Berkel en Rodenrijs near Rotterdam as part of a forward funding agreement. The vendor is Dutch company Heembouw Group, which is developing the facility for the future tenant, Fource Logistics. Construction work is due to be completed by the end of 2020. The acquisition is on behalf of open-ended real estate fund Unilmmo: Global. The parties agreed not to disclose the purchase price. Union Investment was advised on the transaction by 3stone Real Estate.
The Hamburg-based real estate investment manager is aiming to at least double its current logistics holdings of around EUR 1 billion over the coming years. Up to now, its logistics acquisitions have predominantly been in the DACH region. Union Investment is now targeting 12 European core markets for logistics investments, with this first acquisition of a logistics property in the Netherlands demonstrating the new approach.
Stephan Riechers, Head of Investment Management Logistics at Union Investment Real Estate GmbH
The 53,500 sq m of rental space in the planned logistics facility in Berkel en Rodenrijs comprises 49,000 sq m of warehouse space plus 2,300 sq m of mezzanine space and a further 2,300 sq m for offices. There are also 52 loading bays and 333 car parking spaces. Heembouw Architects made the design of the distribution centre. One of the architectural highlights will be a bridge, which is not only the eyecatcher but enables the employees to enter the building in a safe manner, without directly passing the truckyard. Offices, changing rooms, a cafeteria and training facilities are all located on the first floor where the bridge leads to. A curved façade along this section of the building emphasises the high architectural standard. In addition, the entire roof of the property will be fitted with solar modules. A BREEAM Excellent rating will be sought for the logistics facility.