Delin Capital Asset Management has acquired a warehouse in the Port of Amsterdam for €30m (£21.3m).
The asset manager bought the 395,900 sq ft industrial unit in a sale and leaseback deal with G-|Star Raw the jeans retailer.
The two-year-old property is let on a full repairing lease with a weighted average term of 11 years to G-Star Raw, which uses the site as its global e-commerce centre.
This is the second transaction for the Belgium and Netherlands specialist investor in the Port of Amsterdam. The previous investment was the 1.14m sq ft Casablancaweg 8 multilet warehouse.
The purchase was financed by ING Real Estate on a five-year loan, which also financed the Casablancaweg 8 purchase.
Christian Jamison, chief executive of Delin, said: “This, our second sale and leaseback transaction, provides us with access to a high-quality asset with a strong covenant. As retail patterns continue to shift towards the e-commerce market, we believe we are strategically positioned to benefit from this growth, having invested in core, well-located assets.
“We look to continue to build relationships with strong tenants, such as G-Star Raw, and the structure of this agreement is one we would like to continue to replicate across the logistics market.“
