A logistics centre with around 57,600 m² of lettable space is being built at Foodpark Veghel.
Union Investment has acquired the Van Acht Koel- & Vriesopslag logistics development in Veghel, the Netherlands, by way of forward funding. A logistics centre with around 57,600 sq m of lettable space will be built by the third quarter of 2022. The purchase is being made for a special logistics fund that Union Investment launched together with GARBE Industrial Real Estate last year. The parties have agreed not to disclose the purchase price.
Veghel has good motorway connections and can be reached via the A50 (Eindhoven-Nijmegen) and A67 (Eindhoven-Duisburg). The location also has its own container terminal for inland vessels. The property is already fully let to the Dutch Van Acht Group for ten years. The family-run company specialises in the refrigerated and frozen storage of foodstuffs.
Union Investment’s logistics portfolio is expected to grow to a volume of over EUR 5 billion in the medium term. It currently comprises 62 properties with a value of around 2.8 billion euros. “In total, twelve European country markets are on our acquisition radar, including Germany, France, Scandinavia and Poland as well as the Netherlands,” says Campbell.
Union Investment was advised by 3Stone Real Estate, Greenberg Traurig, PwC and Drees & Sommer.
V8 Vastgoed was advised by TLF Real Estate and CMS.