Savills Investment Management has bought a distribution centre in France for its second European logistics fund.
The real estate manager said it acquired the 35,600sqm asset in Beychac-et-Caillau, Bordeaux, on behalf of its European Logistics Fund 2, for €33m.
The vendor of the property was Northwood Investors, represented by STAM Europe.
The property is let on a long-term basis to a subsidiary of the Carrefour Group.
Laurent Vouin, the head of France and Belux at Savills Investment Management, said: “We are very pleased to have closed this transaction, meeting the seller’s deadlines and our fund’s objectives.
“We are seeing strong demand from our clients for core logistic assets ranging in size from 25m up to 100m or more. As such, we have several deals progressing in this sector and continue to look at other opportunities.”