Savills Investment Management has executed its second off-market deal in Poland for its pan-European logistics fund, ELF2.
Financial details were not disclosed.
The deal for the newly-built distribution centre, which is located on the ring-road in western Warsaw, brings the fund's portfolio to 18 properties in six countries.
The modern logistics property has a total of 42,000 m2 of rental space and was completed in the third quarter of 2018. Tenants include four international and domestic companies.
'This is already the sixth deal across four countries for our pan-European logistics fund this year,' said Daniel Hohenthanner, investment director at Savills IM. 'The volume of logistics properties held within our funds is now around €2.9 bn, underlining the significance of this asset class for our company.
'We currently have four more logistics transactions in the pipeline and are looking for further core/core+ opportunities, and some value-add propositions.'
With equity commitments of €560 mln to date, Savills IM said that ELF2 had significantly exceeded its targets, which would lead to the preparation of a successor fund.
