UK private-equity real estate investor Henley has traded €40m of assets in the Dutch city of Rotterdam, buying a 14,000 sq.m. light industrial park and selling two prime assets to local firm Urban Industrial.
Henley’s specialist unit Henley360 bought the 14,000 sq.m. light industrial property in Rotterdam’s Noord-West Business Park, near the city centre, in an off-market transaction, according to a company statement. The site includes industrial, office and storage facilities. It is Henley360’s fourth acquisition in the Netherlands in the last couple of years and its sixth in continental Europe.
The Netherlands remains “a highly attractive market for Henley, bolstered by the recent Dutch election results which have contributed to business confidence in the region. This acquisition is aligned with our opportunistic strategy to recognise assets in areas of high demand which offer significant upside rental returns through active asset management,”
said Henley Investments CEO Ian Rickwood.
Separately the company sold two freehold, multi-let, light industrial properties, with a combines surface area of 43,848 sq.m.,in Business Park Boezembocht and Handelscentrum Alexander.
“This sale is a prime example of Henley buying under performing assets and being able to reduce vacancy levels, increase rents and so drive net operating income, before pursuing an exit strategy to capitalise on market appetite for stabilised, high quality, institutional-standard assets. These transactions build on our strong track record of investment into mainland Europe, delivering deal returns north of 30 per cent IRR,”
Launched in March 2014, Henley360 focuses on high-yielding, multi-let office and light-industrial properties, including sale and leaseback deals in northern Europe. Founded in 2006, Henley has about $1.25bn of assets under management. It focuses on development, investment and asset management in the commercial, residential, healthcare debt and alternative real estate market.
15th May 2017 | Article by Property Investor Europe
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