Hines Global Income Trust Acquires Building and Development Rights for ABC Westland Business Park in the Netherlands
(LONÂDON) – Hines, the interÂnaÂtionÂal real estate firm, announced today that Hines GlobÂal Income Trust, Inc. has acquired ABC WestÂland in the NetherÂlands. The freeÂhold logisÂtics park is locatÂed close to The Hague and preÂdomÂiÂnantÂly serves occuÂpiers in the fresh fruit and vegÂetable indusÂtry, proÂvidÂing a wide range of serÂvices such as proÂducÂtion, logisÂtics, wholeÂsale and trade, packÂagÂing and othÂer relatÂed activities.
The logisÂtics park incorÂpoÂrates both a range of 13 existÂing buildÂings and land for potenÂtial future develÂopÂment. The expeÂriÂenced incumÂbent manÂageÂment team will remain in place to conÂtinÂue to proÂvide an excelÂlent serÂvice to the diverse range of tenÂants on the park.
The propÂerÂty encomÂpassÂes 117,000 square meters of logisÂtics wareÂhouse and comÂmerÂcial office space. The roofs of the logisÂtics busiÂness premisÂes are equipped with 18,285 solar panÂels, which supÂply approxÂiÂmateÂly 30% of the curÂrent enerÂgy conÂsumpÂtion in the park. With an estabÂlished repÂuÂtaÂtion as one of Europe’s largest logisÂtics hub for food and fresh proÂduce, ABC WestÂland is home to over 50 food comÂpaÂnies and supÂpliÂers. This includes comÂmerÂcial enterÂprisÂes, wholeÂsalers, proÂcessÂing comÂpaÂnies, logisÂtiÂcal serÂvice providers and packÂing comÂpaÂnies hanÂdling proÂduce such as fruit and vegÂetaÂbles and floriculture.
ABC WestÂland is locatÂed in the midÂdle of the WestÂland region, an interÂnaÂtionÂal growÂing area and agri-food clusÂter. It is acknowlÂedged for its logisÂtics trade, research and develÂopÂment and the world’s largest greenÂhouse area. MoreÂover, the park sits between the Port of RotÂterÂdam and The Hague.
“ABC WestÂland fits perÂfectÂly into our globÂal portÂfoÂlio and its strateÂgic locaÂtion close to the Port of RotÂterÂdam has enabled the site to become Europe’s leadÂing food logisÂtics hub, servÂing marÂkets across the region,” said Lars Huber, CEO of Hines Europe. ​“The fresh proÂduce and food park have masÂsive growth potential.”
SherÂri Schugart, chief execÂuÂtive offiÂcer of Hines GlobÂal Income Trust, added: ​“Hines GlobÂal Income Trust is excitÂed about expandÂing our presÂence in the Dutch wareÂhouse marÂket with this strateÂgic acquiÂsiÂtion. ABC WestÂland repÂreÂsents a vital logisÂtics hub in the heart of the WestÂland with immeÂdiÂate access to the port of RotÂterÂdam and plays an essenÂtial role in the globÂal food disÂtriÂbÂuÂtion supÂply chain.”
Andy Smith, manÂagÂing direcÂtor and head of Hines NetherÂlands, said: ​“Hines NetherÂlands is pleased to add to our logisÂtics portÂfoÂlio in the NetherÂlands and will conÂtinÂue to look for excepÂtionÂal opporÂtuÂniÂties to broadÂen our investÂment depth and breadth in the secÂtor togethÂer with our growÂing team of speÂcialÂist local professionals.”
Hines was assistÂed by Arcadis, Chatham FinanÂcial, CR CapÂiÂtal AdviÂsoÂry, EY, SavÂills, and SimÂmons & SimÂmons and has received financÂing from pbb Deutsche PfandÂbriefÂbank AG.
About Hines GlobÂal Income Trust
Hines GlobÂal Income Trust is a pubÂlic, non-listÂed real estate investÂment trust sponÂsored by Hines. It comÂmenced operÂaÂtions in 2014 and invests in comÂmerÂcial real estate investÂments locatÂed in the UnitÂed States and interÂnaÂtionÂalÂly. For addiÂtionÂal inforÂmaÂtion about Hines GlobÂal Income Trust, visÂit http://​www​.hinesse​cu​ri​ties​.com/​c​u​r​r​e​n​t​-​o​f​f​e​r​i​n​g​s​/​hgit/.
About Hines
Hines is a priÂvateÂly owned globÂal real estate investÂment firm foundÂed in 1957 with a presÂence in 214 cities in 24 counÂtries. Hines has approxÂiÂmateÂly $120.6 bilÂlion of assets under manÂageÂment, includÂing $66.5 bilÂlion for which Hines proÂvides fiduÂciaÂry investÂment manÂageÂment serÂvices, and $54.1 bilÂlion for which Hines proÂvides third-parÂty propÂerÂty-levÂel serÂvices. The firm has 128 develÂopÂments curÂrentÂly underÂway around the world. HisÂtorÂiÂcalÂly, Hines has develÂoped, redeÂvelÂoped or acquired 1,348 propÂerÂties, totalÂing over 444 milÂlion square feet. The firm’s curÂrent propÂerÂty and asset manÂageÂment portÂfoÂlio includes 512 propÂerÂties, repÂreÂsentÂing over 223 milÂlion square feet. With extenÂsive expeÂriÂence in investÂments across the risk specÂtrum and all propÂerÂty types, and a pioÂneerÂing comÂmitÂment to susÂtainÂabilÂiÂty, Hines is one of the largest and most-respectÂed real estate orgaÂniÂzaÂtions in the world.
Since enterÂing Europe in 1991, Hines has grown its EuroÂpean platÂform to include a presÂence in 57 cities in 13 counÂtries and Hines curÂrentÂly has over €17.0 bilÂlion of assets under manÂageÂment in DenÂmark, FinÂland, France, GerÂmany, Greece, IreÂland, Italy, NetherÂlands, NorÂway, Poland, Spain and the UnitÂed Kingdom.
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