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 two recently acquired properties Rutherfordweg 75 and 91-95. Rutherfordweg 51 comprises warehouse and office space with a total LFA of 8,300 sq m. The property was constructed in 1993 and 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. The seller is a private investor.
Theo Soeters, Fund Manager at Edmond de Rothschild REIM, says: “By this third acquisition within 4 months we have gained a strong position in Utrecht Lage Weide. 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 17 assets with a total GAV of approximately EUR100 million. It aims to deliver to its investors an average net income return of more than 6 per cent per annum over a 10-year period.