Savills Investment Management has acquired a logistics property in Łódź, Poland, and two adjacent distribution centres in Den Bosch, the Netherlands, for a total of c. €52 million. The Polish property was purchased on behalf of the Savills IM European Logistics Fund 2 (ELF 2) portfolio, which now comprises 26 properties. The two Dutch logistics properties constitute the third transaction on behalf of the European Logistics Fund 3 (ELF 3), which was launched in late 2019.
The distribution centre in Łódź comprises 38,270 sqm of rental space and was completed in 2018. It is fully leased on a long-term basis to Whirlpool, a global manufacturer of household appliances, and Compin, an international manufacturer of seats and interiors for public transportation. The property is part of the Central European logistics hub and is located close to a freight station on the ‘New Silk Road’, which connects Europe to Asia by rail. The vendor is Invesco Real Estate, a global real estate investment manager.
Daniel Hohenthanner MRICS, Investment Director at Savills IM, says: “We would like to thank all parties involved for their excellent cooperation on both transactions during this challenging time. With these latest purchases, we have already successfully completed six logistics transactions with a total volume of over €250 million for our two pan-European-investing logistics funds, ELF 2 and 3, since the beginning of the year. Further properties in the Netherlands and France are at an advanced stage of acquisition. We are thus continuously expanding our strong position as one of the largest European investment companies in the logistics sector, with assets under management of c. €4.6 billion.”
ELF 2 was closed to new investors in early 2019. Owing to its success, ELF 3 was launched in November 2019. The fund strategy focuses on investments in high-value distribution centres and transhipment facilities in the liquid logistics core markets of Europe that are suitable for third-party use, offering broad diversification across industry, trade and services.
