Savills IM adds €175m of assets to logistics portfolio

Savills Investment Management has bought two logistics assets in France and the UK on behalf of its Vestas European Strategic Allocation Logistics Fund for a combined €175m (£147m). In the UK it has bought DSV’s Midlands headquarters at Mercia Park in Tamworth in a sale-and-leaseback deal. The site comprises a 420,000 sq ft warehouse building, a 120,000 sq ft cross-dock facility and a 35,000 sq ft office building. DSV has taken a 10-year leaseback on the property. The fund has also acquired two recently developed warehouses near Lille. The buildings are leased to Renault and Fedrus on long-term commitments. Alistair Ennever, head of industrial and logistics, Europe at Savills Investment Management, said: “The market continues to be very competitive, and we are pleased to have been able to diversify the fund to the French and UK markets with these acquisitions.” Savills IM was advised by BNP Paribas on the French transaction and by CBRE on the Tamworth acquisition. Aareal Bank financed both transactions. To send feedback, e-mail samantha.mcclary@eg.co.uk or tweet @samanthamcclary or @EGPropertyNews See which agents are doing the most industrial investment deals with our On-Demand Rankings >>