Savills Investment Management has completed the acquisition of a multi-asset logistics asset in Poland from 7R for €101 mln.
The deal for 7R Park Beskid II was struck on behalf of South Korea's Vestas Investment Management. According to Savills, the asset is situated in one of the largest automotive industry production and distribution clusters in Europe.
Alistair Ennever, head of industrial & logistics, Europe, Savills Investment Management, commented: 'We are very pleased to have concluded another transaction with Vestas and their investors, particularly in this high quality scheme developed by 7R.
'The asset is ideally located in one of the largest automotive production clusters in Europe and has proven appeal to blue-chip tenants. We have strong conviction that this is the right asset in the right location which is set to benefit from the fundamental drivers of the logistics sector over the long term.'
7R Park Beskid II, which was developed by 7R, is located in the Upper Silesia region in Poland, directly adjacent to national road 1, which connects the property to the A4 highway.
It comprises a 90,000 m2 multi-let logistics facility made up of five buildings, four of which are standard specification, with one build-to-suit facility for a JV between Valeo and Siemens.
7R Park Beskid II is certified BREEAM at Very Good level. The transaction will complete in three phases, with the final phase in March 2022.
Bayerische Landesbank (BayernLB) financed the deal, which takes Vestas’s assets under management with Savills Investment Management to €1.4 bn in Europe, spread across 15 office and logistics assets.
Savills IM were advised by Dentons (legal); Arcadis (technical and environmental) and Cushman & Wakefield (commercial), with BayernLB financing the transaction.
7R and VRE were advised by Baker McKenzie (legal) and Jones Lang LaSalle (commercial).
