Aberdeen Standard Invesments’ European property growth fund (EPGF) has acquires a €31.7m Dutch logistics development.

EPGF fund will forward fund the new 43,000 sqm distribution centre in Venlo, the Netherlands. It will buy the property at Trade Port Noord business park from H van den Boogaard Projects.

The project will be completed Q4 2019. It will deliver a total of 39,100 sqm of logistics accommodation. The project will include 1,110 sqm office space, and parking for 175 cars.

Veronica Gallo-Alvarez, Fund Manager at Aberdeen Standard Investments, said: “This investment meets our strategic objective to focus on well-located, logistics assets in core European markets with potential for value uplift and income producing over the medium-term.

This deal is the fund’s third logistics developement in the Netherlands.

Source: IPE

Fulya Altunyay/ fulyaaltunyay@realestatecoulisse.com