Edmond de Rothschild REIM acquires light-industrial asset in Utrecht
Edmond de Rothschild Real Estate Investment Management has acquired a light-industrial property in the Netherlands for the Edmond de Rothschild Euro Industrial Real Estate Fund.
The property is located next to the recently acquired Rutherfordweg 75. Rutherfordweg 91-95 comprises warehouse and office space with a total LFA of 7,400 sq m. The property was constructed in 1996 and extended in 2000. The asset is fully let to one tenant. The property is located at Lage Weide Utrecht and is one of the most central located business parks in the Netherlands.
Theo Soeters, Fund Manager at Edmond de Rothschild REIM, says: “This acquisition fits perfectly within the fund’s strategy to acquire light-industrial assets on well accessible and urbanized locations with excellent transportation links.”
Edmond de Rothschild REIM was advised by VBC Notarissen on legal and tax side, Drees & Sommer on technical matters and by 1530 Real Estate on commercial matters
The fund has a core plus risk profile and is aimed at institutional investors. At the moment the portfolio consists of 15 assets with a total GAV of approximately EUR 90 million. It aims to deliver to its investors an average net income return of more than 6% per annum over a 10-year period.
The open-ended fund is domiciled in Luxembourg in the form of a FCP-RAIF. Pancura SA is the Alternative Investment Fund Manager and Aztec Group is the Central Administrator.