Edmond de Rothschild REIM acquires industrial property in Utrecht, Netherlands
Edmond de Rothschild REIM has acquired an industrial property at Rutherfordweg 75 in Utrecht, Netherlands, for the Edmond de Rothschild Euro Industrial Real Estate Fund. The vendor is a private investor. The parties have agreed not to disclose the purchase price.
It comprises three warehouses, whereby one has been converted into a double storey building to provide a showroom and offices. The lettable area of the asset totals around 2,100 square metres on a plot of land of around 11,000 square metres.
The property is occupied on a long lease to a manufacturer and wholesaler of brick paving, ceramic tiles, garden sheds, garden timber, synthetic turf and other garden products.
René de Heus, Head of Investment Benelux at Edmond de Rothschild REIM: “This purchase is a further systematic implementation of our fund strategy of acquiring light industrial properties in densely-built urban locations where we anticipate on rental growth and a possible redevelopment on this particular location. The acquisition in Utrecht means that the fund’s portfolio now comprises 15 properties. Further property acquisitions are already under consideration."
Brokerage firm 1530 Real Estate advised Edmond de Rothschild REIM on this transaction. DLA Piper advised on legal issues and SGS Research on technical matters. Vendor has been advised by Bernd-Jan Bolwijn Vastgoed Consultancy B.V.
The Edmond de Rothschild Euro Industrial Real Estate Fund is open-ended and has a core plus risk profile. At the moment the portfolio consists of 14 assets with a total Gross Asset Value of approximately EUR 85 million. It aims to deliver to its investors an average net income return of more than 6% per annum over a ten-year period.
The open-ended fund is domiciled in Luxembourg in the form of a FCP-RAIF. Pancura S.A. is the Alternative Investment Fund Manager and Aztec Group is the Central Administrator.
Edmond de Rothschild Euro Industrial Real Estate Fund is reserved exclusively for professional investors and might come with restrictions for certain persons and in certain countries. The fund does not guarantee or protect the capital invested, so investors may not recover the full amount of their initial capital invested even if they retain their units for the recommended investment period. Any investment in Edmond de Rothschild Euro Industrial Real Estate Fund involves exposure to certain risks and not limited to liquidity risk, concentration risk (Real Estate investments) and currency risk. Any investment in Edmond de Rothschild Euro Industrial Real Estate Fund may in any event only be made on the basis of documents and information that comply prevailing regulations. No assurance can be given that the investment objective of the fund will be achieved.