International investment firm Savills Investment Management (SIM) has acquired a logistics portfolio in the Netherlands from CBRE Global Investors for its European Logistics Fund 3.
Financial details were not disclosed.
The portfolio comprises two warehouses located in Wijchen and ‘S Heerenberg, and has a lettable floor space of approximately 45,000 m2.
Marcel Fleminks, director investments, co-head the Netherlands at SIM, said: 'This portfolio is a core Dutch logistics investment opportunity in the European market. The size of the assets, in prime locations, and a fully let income profile with steady cashflows attracted wide investor interest.'
Added Douglas van Oers, director logistics & industrial at Savills in the Netherlands, added: 'As more capital has flooded into the logistics sector, prices have risen and we expect this to continue through the course of the next two to three quarters.
'It’s not just the number of interested parties but also the amount of capital they have to invest.'
Maurice Stieger, asset & transaction manager at CBRE Global Investors, said: 'This is a strategic disposal in line with our business plan, following a previously acquired larger portfolio.
'With this sale, we are creating room to further grow the portfolio through new transactions within the Netherlands and the rest of Europe.'
Savills, Dentons and Drees & Sommer advised SIM during the acquisition. CBRE Global Investors was advised by JLL.
