Edmond de Rothschild REIM acquires six industrial assets on behalf of new partnership with Global Real Estate Investment Organisation
Amsterdam. Edmond de Rothschild REIM has acquired a portfolio of six industrial assets with a total lettable floor area of approximately 53,000 sqm, on behalf of Orange Industrial, a newly incorporated joint venture with New York based AIG Global Real Estate, the real estate investment arm of insurer American International Group, Inc. (AIG).
The portfolio consists of six industrial assets of which five (approximately 50,000 sqm) are located in the Randstad. The properties are strategically located to service and near densely populated areas including Diemen, The Hague, Haarlem, Barendrecht and Mijdrecht.
Onno Scheij, Managing Director, Head of Benelux, Edmond de Rothschild REIM: “With the acquisition of this seed portfolio we have acquired a great value-add product in line with the investment strategy to acquire existing and to-be-developed industrial and distribution assets throughout the Netherlands. We look forward to adding further assets to this portfolio with AIG Global Real Estate.”
Orange Industrial is a newly formed joint venture between Edmond de Rothschild REIM and AIG Global Real Estate. The joint venture invests in industrial and logistics real estate near urban areas and in distribution centres and pursues the addition of value through active asset management and investments into regeneration and sustainability.
Edmond de Rothschild REIM and AIG Global Real Estate were advised by Van Doorne, Clifford Chance and EY on legal and tax matters. SGS Search advised on technical matters.