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HDG Mansur Acquires €16.1 Million New Development
13 February 2008
The London office of HDG Mansur has completed the acquisition of the Moerdijk Distribution Warehouse, in The Netherlands, on behalf of the HSBC Amanah Global Properties Income Fund. The €16,100,000 newly constructed building is leased to its sole tenant, Hudig Freight Service, for ten years.
This building is located in the Moerdijk Business Park, one of the most important business parks in the region and situated on the main A17 and A59 roads linking Rotterdam to the Belgian hinterland. The building contains a total of 215,278 sq. ft. (20,000 sq. m.) of warehouse space and 10,764 sq. ft. (1,000 sq. m.) of office space, along with 71 separate car and truck parking spaces. The building is prominently positioned by the Port of Moerdijk, a major logistic site, which provides trimodal links between the North Sea, the European road network, the trans-European network of waterways and the railway network.
Philip Churchill, HDG Mansur, Head of Investment Management, Europe commented: "This well located building in the Port of Moerdijk provides all the benefits of a modern, purpose-built facility within an established logistics and trading platform, with a third of all goods entering Europe passing through Rotterdam Seaport and Schiphol Airport. Furthermore, there is strong potential for further increases in value as the rental market continues to improve.''
Chairman and CEO of HDG Mansur, Harold D. Garrison continued: "The Dutch economy has experienced a strong recovery in recent years and is currently one of the fastest growing economies in Europe; and figures show that it is moving towards a period of much stronger growth still. Therefore, HDG Mansur is keen to sustain what is already a strong position in the Dutch commercial market and reinforce its position as a leading player in the European property market."
King & Spalding's London office led the legal team representing HDG Mansur on the structuring and financing of the acquisition on a Shari'ah-compliant basis. The King & Spalding Team was led by Partner Jawad Ali with assistance from Mike Rainey and Liz Lyon.
NautaDutilh acted as HDG Mansur's advisors in the transactions.
-Ends-
For more information contact:
Kyra Obolensky at TwoBlue Communications : 0207 349 6280 / kobolensky@twobluecommunications.com
Notes to Editors:
HDG Mansur is an international real estate industry leader with more than 25 years experience in providing real estate fund and asset management services and property development services worldwide. These services are structured to support the specific requirements of high net worth individuals and their private banks, trust companies and financial advisors.
Since 1982, HDG Mansur's business activity includes:
- $5.9 billion in international real estate investments
- 4.2 billion in real estate financing
- $1.3 billion in planned and managed equity
- 30 million square feet in real estate investments
- More than 25 years experience
- 4 offices worldwide – London, New York, Indianapolis and Dubai
- As of 30th June 2008, the HDG Mansur's Group's business has $2.6 billion of assets under investment