Savills Investment Management (Savills IM) has acquired a distribution centre in Tilburg, Netherlands, for the pan-European savings fund it manages – European Logistics fund 2.
The purchase price amounts to approximately €18.2m. The transaction took place via share deal.
The logistics centre was completed in mid-October 2017, meets the latest state-of-the-art criteria and has a total area of around 22,030sqmtr. The property is the new headquarters of Capi Europe, a Dutch retailer. The complex is leased long term to Capi.
Following the recent acquisitions of the two distribution centres in Zaragoza (Spain) and Örebro (Sweden) as well as the transhipment centre in Neu-Ulm, this is the fourth investment for the fund within the last six months.
On the buy side, Simmons & Simmons, Ernst & Young and Royal HaskoningDHV advised.
Savills IM European Logistics fund 2 is an open specialised fund under construction. So far ten objects have been acquired. The fund is specifically geared towards the needs of German-speaking institutional investors, who seek a “core” product with an attractive pay-out in terms of risk profile. The fund invests in logistics properties with Grade A property quality in the liquid European core markets.