PGIM Real Estate has completed the acquisition of a 106,236 sqm Grade A logistics portfolio comprising two properties in Rotterdam and Dordrecht, on behalf of its European core strategy. The properties were bought from Dordrecht-based logistics developer Dudok Real Estate. PGIM Real Estate is the US$209.3 billion real estate business of PGIM.
Dominik Brambring, Head of Germany, Austria and the Netherlands at PGIM Real Estate comments: “The ongoing need for durable and efficient supply chains continue to drive resilient and sustainable cash flows at the asset level in logistics – whilst competition for scarce space in the major pan-European logistics corridors is going to carry on generating rental growth for last mile logistics assets.
“The properties will also benefit from the sustainable strong growth of imports and exports at the Port of Rotterdam and the persistent rise of e-commerce combined with ongoing investor appetite for the Dutch logistics sector. This acquisition demonstrates our continued focus on high conviction investment themes to leverage markets with strong growth potential.”
Read the full press release at the link below