GARBE has acquired a newly developed logistics property in Berkel en Rodenrijs in the Netherlands, completing the first transaction for a new institutional investment mandate covering Dutch and German logistics real estate. The approximately 16,000 sqm property is fully occupied by Sluyter Logistics following a sale-and-leaseback transaction.
The logistics centre, located at Zeppelinstraat 10, was constructed by Aan de Stegge and has achieved BREEAM-NL Excellent certification. The purchase price, identity of the institutional investor and terms of the lease with Sluyter Logistics have not been disclosed.
The acquisition provides the new mandate with an immediately income-producing property occupied by an established logistics company. GARBE intends to use the mandate to build a portfolio of modern logistics assets in the Netherlands and Germany and is already assessing further acquisition opportunities in both markets.
“With this transaction, we are making the first investment under a new institutional mandate for core logistics real estate in locations where accessibility, building quality and long-term value come together,” said Louca Benders, Senior Investment Manager at GARBE Netherlands.
Berkel en Rodenrijs is positioned between Rotterdam and The Hague and provides access to the A13, A16 and A20 motorways. The property also benefits from connections to the recently developed A16 Rotterdam infrastructure, while the Port of Rotterdam and Rotterdam The Hague Airport are within the wider logistics catchment area.
Sluyter Logistics will continue operating from the building following the change of ownership. The transaction allows the company to retain the facility as part of its logistics network while releasing the capital tied to the real estate. Sluyter Logistics CEO Fred Westdijk said the location forms an important part of the company’s growth plans and supports its efforts to improve the efficiency and environmental performance of its operations.
“We are pleased to have been able to realise this core acquisition in the current market. High-quality logistics real estate is scarce, as is core capital willing to commit to this type of product for the long term. This makes the acquisition a strong start to the new mandate and confirms our ambition to continue growing in the Netherlands and Germany with high-quality logistics real estate,” said Maurits Smit, Managing Director GARBE Netherlands.
GARBE was advised by Lexence on legal matters, Drees & Sommer on technical aspects and EY on tax. Sluyter Logistics worked with Winston Taylor, Brainstone, Borgen Tax and De Mik Real Estate Partners. The Berkel en Rodenrijs transaction now provides the starting point for GARBE’s broader institutional investment programme as it seeks further logistics properties across the Netherlands and Germany.