Frasers Property buys Dutch logistics warehouse for $38m

The 31,600 sqm warehouse is leased to a giant dairy company.

Frasers Property acquired a logistics warehouse in the Netherlands via freehold from Acacia BV and LocMeppel for $38m (€24.2m). 

LocMeppel has the freehold interest in the property. Upon the completion of said acquisition, LocMeppel B.V. will be an indirect wholly-owned subsidiary of Frasers Property.

Located at Meppel, The Netherlands, the newly bought logistics warehouse has an area of approximately 31,600 sqm that is leased on a long-term basis to a leading company active in the dairy industry.

The property also includes an ancillary office space in Noord II, in an industrial estate in Meppel town.

The acquisition is not Frasers Property's first transaction in Europe. It bought 22 logistics assets in Germany and Austria for $467.7m.