Savills Investment Management (IM) has invested €46.9m in the Netherlands behalf on behalf of its European logistics fund.

The international real estate investment manager, on behalf of European Logistics Fund 3 (ELF 3), has bought the newly constructed distribution centre near Amsterdam from VDG Real Estate. The 23,650sqm asset in the Schiphol Trade Park is 60% let.

Savills IM said the latest deal is the fourth purchase in the Netherlands made for the ELF 3 fund since its launch at the end of 2019. The other purchases include one in Den Bosch, North Brabant, and two in s’Heerenberg and Wijchen in Gelderland.

Further acquisitions on behalf of ELF 3 in Poland and Sweden are at advanced stages, the manager said.

Daniel Hohenthanner, an investment director at Savills IM, said: “We are delighted to have acquired yet another attractive property in one of Europe’s largest metropolitan regions for ELF 3. We have again used our excellent market contacts to secure this asset off-market.”

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