Savills Investment Management has sold a 25,700sqm cross-dock asset in Sweden to Swiss Life Asset Managers Nordic.

Savills IM said the asset in Gothenburg, was sold on behalf of its Nordic Logistics Club Deal fund to Swiss Life Asset Managers Nordic on behalf of one of its funds and a group of investors.

Built in 2009 and expanded in 2014, the fully-let logistics asset is in the centre of the Swedish city of Gothenburg in the Backa industrial area.

Peter Broström, head of Nordics at Savills IM, said: “This sale demonstrates that there is a robust interest to invest into high-quality logistics locations underpinned by proximity to a capital city and strong ESG characteristics.”

The Savills IM Nordic Logistics Club Deal fund was launched in 2014 as a German real estate special fund.

“This fund has again exceeded its performance expectations, delivering strong income returns and total returns over our 10 years of ownership. Backa is the tenth sale in the fund and we expect to sell the last remaining property later this year,” Broström said.

Lisen Heijbel, head of Nordic investment at Savills IM, added that the transaction “underscores our strong belief that the Nordic market for logistics transactions is back, with competitive bidding from different types of buyers”.

He added: “While we are pleased with the outcome of this sale, we continue to look for additional logistics assets to acquire in the right locations across all Nordic markets.”

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