AXA Investment Managers - Real Assets (AXA IM - Real Assets), a French real estate investment firm, has closed on the purchase of a core logistics portfolio in the Netherlands for circa 72 million euros ($81 million).
The portfolio, predominantly located in the south of the Netherlands, in the logistics sub-markets of Helmond, Sittard, and Veghel, consists of four high-quality assets, three of which are newly completed and the fourth was delivered in 2013.
Moreso, the four fully let assets range in size from about 6,000 square meters (m²) to round 28,500m² and have been purpose-built to modern technical specifications, with office space included at each asset.
On behalf of its clients, AXA IM - Real Assets acquired the approximately 65,300 square meters portfolio from Next Level Real Estate, a Dutch real estate investment, and development firm.