Cording acquires Dutch portfolio
Cording Real Estate Group, part of Rothschild, has acquired a portfolio of four industrial properties in the Netherlands. The seller is Focus Real Estate.
According to Cording, part of Edmond de Rothschild's real estate investment and management platform, the portfolio has a total leasable area of around 22,300 sqm and is fully let. The weighted average remaining lease term (WALT) of the existing leases is more than ten years.
Two of the properties are located in Parkforum in Eindhoven. Built in 2012 and 2013, the properties comprise areas of 5,850 sqm and 6,600 sqm, respectively. Another acquired property in Theemsweg in Rotterdam-Botlek from 2015 has an area of approximately 3,350 sqm. The fourth property in the portfolio is located in the Rotterdam suburb of Barendrecht. It was completed in 2016 and has an area of around 6,500 sqm.
Cording will take over the investment and asset management of the properties.
In the transaction, Cording was advised on legal and tax matters by Van Doorne and on technical matters by Malcolm Hollis. Colliers International acted as brokerage firm for Cording. Focus Real Estate was advised by Cushman & Wakefield and law firm Simmons & Simmons. (ah)
