Hines acquires ABC Westland
07 May 2019
International law firm Simmons & Simmons has once again advised US investor Hines, this time on the €116.5mn acquisition of business park ABC Westland. ABC Westland is a major agri/food logistic park of 117.000 m² in the Westland. Hines is a global real estate investment, development and asset management firm, with a presence in 2014 cities in 24 countries.
For Hines, this transaction is one of the largest logistics transactions in the Netherlands, preceded by their acquisition of Fresh Park Venlo in 2018.
The Simmons & Simmons team was led by corporate real estate M&A partner, Rob Hendriks, real estate partner, Luc Cohen and managing associate, Martijn Stuart.
Corporate real estate M&A partner, Rob Hendriks said: “ABC Westland is a key connector in the sector of agri/food, strategically located near the port of Rotterdam, which is the largest port in Europe. It was a privilege for our team to once again assist Hines on this major, complex and high-profile transaction.”
Real Estate partner, Luc Cohen continued: “This transaction illustrates the developments in the Dutch real estate market. Transactions are increasingly complex and grow in deal size. Our Real Estate M&A team specializes in transactions like these. With over thirty specialized lawyers, notaries and tax lawyers we are able to offer full service to clients.”
Head of Hines Netherlands, Andy Smith also commented: “We are grateful again for the support of Simmons and Simmons for a second closing in the logistics segment within one year. We continue to be impressed by the full-service capabilities of the team and the way the team coordinated with all the disciplines of the broader Hines team and all other parties involved in order to get the complex transaction over the line.”
Other team members involved in this transaction were Michiel Boer, Siemkje Batenburg, Jan-Joost van Rijsbergen, Cathelijne Otte, Anne-Fleur van ’t Hooft, Andrada Tiru, Dirk-Jan Gerrits, Tijmen Brüne, Liesbeth Driest, Jaap van der Steenhoven, Carine Russel, Eefje Ceulemans, Pieter-Bas den Brave, Shauny Japhary and Bob van Els.
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