HighBrook and Neuberger Berman recapitalise Dutch warehouse assets

Private equity real estate firm HighBrook Investors has partnered with Neuberger Berman to recapitalise a portfolio of 23 Dutch warehouses. 

Dutch CityLink Logistics Portfolio

HighBrook sold a minority stake in the portfolio, which is managed by its European last-mile logistics platform, CityLink, to funds managed by Neuberger Berman.
The portfolio consists of 23 assets strategically located in urban centres across the Netherlands. These assets are part of CityLink's larger European logistics platform, which encompasses 140 warehouses in the Netherlands, Germany, and Denmark.
HighBrook will maintain its majority ownership in the portfolio, and CityLink will continue to oversee the management of the assets. This transaction aligns with HighBrook's long-term objective of expanding and improving its logistics presence throughout Europe.
Robert Giusti, partner & CIO of HighBrook, stated: “We’re pleased to welcome Neuberger as a partner on the portfolio. This recapitalisation provided us with an opportunity to partially monetise our position and return capital to our investors, while preserving the scale and upside potential we see in the underlying portfolio.  We are grateful for Neuberger’s excellent execution and look forward to growing our relationship with them.” 
Scott Koenig, managing director at Neuberger, added: “This recapitalisation provides our investors with exposure to a high-quality, strongly performing portfolio, while providing fresh capital to support CityLink’s business plan and Highbrook’s continuity of ownership. The investment reflects our long-standing conviction for well-located, supply-constrained logistics real estate in Europe. We are pleased to enter into this partnership with HighBrook and CityLink as they continue to add value to the portfolio.”
Morgan Stanley's Investment Banking team served as advisors to HighBrook Investors for this transaction. Neuberger was advised by Simpson Thacher & Bartlett and PwC.