Savills IM launches European urban logistics strategy with key hire

He will have specific responsibility for leading and growing a new flagship pooled urban logistics and industrial strategy, which will exploit the continuing rental growth pressure in undersupplied urban markets, but at repriced levels.

The business will focus on acquiring flexible units and improving existing properties, while developing new assets targeting healthy long-term total returns.

Castelein has over 20 years of experience in real estate, with over a decade in senior real estate fund management roles. He joins Savills IM from abrdn, where he was most recently the fund manager on one of the firm’s listed European logistics products. He has also held roles in other funds & real estate research at abdrn and FGH Bank.

Castelein will continue to be based in Amsterdam, and report to Jon Crossfield.

Said Crossfield, head of strategic partnerships and living, Savills Investment Management: 'We remain totally committed to the logistics and industrial sector and we firmly believe in its long-term fundamentals.

'We are excited about launching a logistics strategy at this time, and believe we offer a compelling proposition to investors, implemented by an experienced platform that can source and exploit opportunities across all of Europe’s key urban areas.

'Evert’s experience and knowledge of the sector will be key as we take the next steps and complement an already established and successful team.'

Added Castelein: 'Savills IM has an established an enviable presence and track record in the European industrial and logistics space, and am delighted to be joining a firm with such conviction and determination to move their business forward.

'It is an exciting time to be looking at the sector and I look forward to leading the new strategy and working with colleagues across the whole platform to source and manage the most interesting opportunities.'