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PATRIZIA Immobilien buys 4 logistics properties in Belgium, Netherlands for €70M

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PATRIZIA Immobilien buys 4 logistics properties in Belgium, Netherlands for €70M

PATRIZIA Immobilien AG bought four logistics properties encompassing more than 100,000 square meters across Belgium and the Netherlands for 70 million.

The company acquired a fully occupied, three-property portfolio in Belgium from Leasinvest Real Estate SCA, with 80,000 square meters of storage space and 8,000 square meters of office space. Tenants include Ziegler, MSF, Van Inn, Van den Borre and SKF, and the properties have a combined weighted average unexpired lease term of 5.2 years.

The company also acquired, in a separate deal, a 12,500-square-meter distribution center in Dordrecht in the Netherlands from DSV Air & Sea, which will continue to occupy the facility under a long-term lease.