Savills Investment Management has invested €72m to buy three logistics properties in France on behalf of its latest European logistics real estate fund.

The international real estate investment manager said it acquired a cross-dock facility in Dijon and two urban logistics properties in the greater Toulouse area on behalf of the European Logistics Fund 3 (ELF 3) fund.

Savills IM said the ELF 3 fund’s portfolio now comprises 15 properties in five countries.

Daniel Hohenthanner, director of investment at Savills IM, said: “In the current challenging market environment, we are looking even more closely at potential investments.

“Properties such as these in Dijon and Toulouse, which are all located close to the city to serve the last mile, have high ESG standards and are let long-term to tenants with strong credit ratings, we are convinced that they are sustainable and defensive investments that complement the portfolio of our ELF 3 very well.”

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