UK’s EPGF to acquire new Dutch distribution centre for $35.8 million

European Property Growth Fund (EPGF), operated by investment company Aberdeen Standard Investments, has agreed to acquire a new 43,000 square meters distribution centre in Venlo, the Netherlands.

The firm will invest 31.67 million euros ($35.8 million) to acquire the property from property developer H. van den Boogaard Projects B.V.

EPGF said that the move is in line with its 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.

The facility, which is under construction with completion expected in the fourth quarter of 2019, will deliver logistics accommodation, a mezzanine, office space and parking for 175 cars.