USAA RealCo Makes First European Foray

UTRECHT, Netherlands—Through a wholly-owned Dutch subsidiary, USAA RealCo. has acquired a 365,489 square foot class A logistics property, a 43,917 square foot (4,080 m2) multi-story office building, and an adjacent 19.7 acres of land.

The logistics facility, located at Atoomweg 111-115 within Lage Weide, one of Utrecht’s principal business parks, was developed in 2012 by Somerset Real Estate B.V. on behalf of internationally recognized logistics provider, Kuehne + Nagel.  RealCo B.V. will engage Somerset to develop a new 307,385 square foot (28,557 m2) logistics facility on the 19.7 acre tract. Somerset also will refurbish the vacant space within the acquired office building.  RealCo was represented in this transaction by the brokerage firm 3Stone Real Estate, and by CMS Derks Star Busmann as legal counsel.