DLA Piper advises on the sale of Amsterdam Logistic Cityhub, the largest single-asset logistics deal in the Netherlands
DLA Piper has advised on the EUR307 million sale of Amsterdam Logistic Cityhub (ALC) to CTP, a listed developer and operator of logistic real estate. The transaction is the largest single-asset logistics deal in the Netherlands to date.
ACL is strategically located in the Port of Amsterdam and is designed to shorten the last mile to and from the city centre. The facility will provide a solution to the increasing congestion and lack of space in and around the Dutch capital. ALC meets the strong demand for storage and last mile distribution space near the city centre and facilitates emission-free parcel delivery and supply to the inner city over land and water. ALC will offer circa 120,000 m² net lettable floor space of exceptional quality, including 90,000 m² warehousing space, 11,000 m² high quality office space, 17,000 m² mezzanine space with the possibility to extend to 74,500 m². In addition, the facility offers circa 1,700 parking spaces, 200 loading docks and a 180 m private quay.
The site includes 220,000 m² fully sustainable solutions. ALC has a multimodal functionality and will be built to excellent specifications. Once completed, the hub will be one of the most sustainable sorting and logistics centres in the Netherlands.
DLA Piper has advised ALC on all phases of its development and transactional process. This includes the initial purchase of the site by the developer from Lanxess Manufacturing in 2018, the re-positioning and re-development of the site, the financing and corporate structuring of the development and the subsequent sale of the shares in Amsterdam Logistics Cityhub B.V. to CTP.
This transaction showcases DLA Piper’s continuing commitment to green projects, assisting clients on all stages of their real estate development and investment business cases, and its involvement with large-scale transactions with material ESG considerations.
The team was led by Amsterdam-based partners Monique Laenen (Real Estate) and Jochem Beurskens (Corporate) with support from partner Hans-Mark Giezen (Real Estate), legal directors Sebastiaan Wijsman, Jean Paul Dresen (both Tax) and Stephanie Menz (FPR), senior associate Stefan Spaans (Corporate) and associates Axel Visschedijk, Marije Overwater, Ernst Haverkamp (all Real Estate) and Maurice Jeurissen (FPR).