Amsterdam, 21 December 2015 - Geneba Properties N.V. (“Geneba”) acquires a newly developed high quality logistics property in Venlo. Following last month’s acquisition in ‘s-Heerenberg Geneba now adds another key Dutch logistics asset to its portfolio.

The new investment in Venlo adds another 33,000 m² of high quality logistics space to Geneba’s portfolio. The sole tenant is DSV which developed and sold the property post completion. DSV has signed a 10 year lease, providing on-site value added logistic solutions, such as warehousing, picking/packing, distribution, supply chain management and order planning.

The property is located in one of the key logistics regions of the Netherlands: Venlo in the Province of Limburg, close to the German border. It has excellent access to road, water and railway links to the port of Rotterdam and Germany (Ruhr area).

Wulf Meinel, CEO Geneba Properties:
“This is again a great step in executing our strategy to focus on high quality logistics and light industrial properties in Germany and the Netherlands. After announcing our first transaction in the Netherlands last month, we are happy to announce this second acquisition. We trust in favourable macro-economic parameters in the Netherlands and we are convinced that quality assets like this one find continued demand. This acquisition will offer Geneba long-term sustainable returns and as such perfectly complements our existing logistics and light industrial property portfolio.”

Brian Winther Almind, Director Group Property DSV:
“DSV is following an asset light strategy, and Geneba is a perfect partner for this strategy. We have developed the building in a high quality and did not have to make any compromises. The warehouse was full from day one, so now we will have to repeat the success and are already searching for new opportunities.

The acquisition has been partly financed with the proceeds from the January 2015 Rights Issue. Debt financing has been provided by ING Real Estate Finance.

Geneba was advised by Loyens & Loeff (legal), NautaDutilh (legal) and Cyclus Property (advisory) during the transaction. ING Real Estate Finance was advised by Clifford Chance (legal). The seller was advised by CMS (legal).