Savills Investment Management has acquired a logistics property in Lódz, Poland, and two adjacent distribution centres in Den Bosch, the Netherlands, for a total of €52 mln.
The Polish property was purchased from Invesco Real Estate on behalf of the Savills IM European Logistics Fund 2 (ELF 2) portfolio, which now comprises 26 properties. The two Dutch logistics properties constitute the third transaction on behalf of the European Logistics Fund 3 (ELF 3), which was launched in late 2019.
The distribution centre in Lódz comprises 38,270 m2 of rental space and was completed in 2018. It is fully leased on a long-term basis to Whirlpool, a global manufacturer of household appliances, and Compin, an international manufacturer of seats and interiors for public transportation. The property is part of the Central European logistics hub and is located close to a freight station on the ‘New Silk Road’, which connects Europe to Asia by rail.
The two Grade A distribution centres in the Netherlands are located at an emerging logistics location in Den Bosch, the capital of North Brabant province. One property comprises 16,680 m2 of rental space and was completed in 2018. The other has 19,425 m2 of rental space and was completed in August 2020.
Both properties are fully let on a long-term basis to logistics service provider Brouwers Holding. The roofs of both properties will be equipped with solar panels, and BREEAM sustainability certification is being sought. The seller of the two distribution centres is the Van Dijk Group, a Dutch developer specialising in logistics.
Daniel Hohenthanner, investment director at Savills IM, said: ‘We would like to thank all parties involved for their excellent cooperation on both transactions during this challenging time. With these latest purchases, we have already successfully completed six logistics transactions with a total volume of over €250 mln for our two pan-European-investing logistics funds, ELF 2 and 3, since the beginning of the year. Further properties in the Netherlands and France are at an advanced stage of acquisition. We are thus continuously expanding our strong position as one of the largest European investment companies in the logistics sector, with assets under management of €4.6 bn.’
ELF 2 was closed to new investors in early 2019 and ELF 3 was launched in November last year. The fund strategy focuses on investments in high-value distribution centres and transhipment facilities in the liquid logistics core markets of Europe that are suitable for third-party use, offering broad diversification across industry, trade and services.
