Dutch company Euroindustrial is throwing as many as thirteen distribution centres with a combined floor area of over 190,000 square metres on sale. These include distribution centres in Venlo, Ventray, Moerdijk and the Schiphol region.
The independent investment fund is selling the centres because it wants to part with its entire logistics property portfolio. Euroindustrial long bet on the sales & leaseback trend. This involved logistics service providers selling their properties and then leasing them back from Euroindustrial. This did not work out so well. Only last year was a positive result again after a long period.
The fund reports that the distribution centres are fully let to various logistics companies. This generates around 8.5 million in annualised rental income. The weighted average term of the leases is around 5.4 years.
Editorial LogistiekProfs
