Savills IM buys newly constructed cross-dock in Sweden for logistics fund

18 April 2019

The international real estate investment manager Savills Investment Management (Savills IM) has acquired a modern cross-dock in Jönköping, Sweden, on behalf of its Savills IM European Logistics Fund 2 (ELF 2). The vendor and tenant of the sale-and-lease-back transaction is the global transport and logistics service provider DSV. Following this acquisition, ELF 2 has an investment volume of c. EUR 524 million with 17 properties in six countries, including 3 in Sweden.

The cross-dock was completed at the end of 2018 and comprises a total rental area of 23,345 sq m. It is located in Jönköping, in the centre of the logistics triangle of the Nordic cities of Stockholm, Gothenburg and Copenhagen. A large number of large- and medium-sized companies have settled in the region. The property is very well connected to transport and logistics infrastructure via the E4 motorway and is fully let to DSV Road AB on a long-term basis. The cross-dock received a BREEAM 'Very Good' rating.

Daniel Hohenthanner MRICS, Director Investment at Savills IM, said:

"With this purchase, we were able to secure another modern cross dock for our logistics fund. Sweden is the largest real estate market in the Nordics and is currently rated by the World Bank as the most attractive logistics location in the world after Germany. On behalf of our investors, we continue to look for logistics properties throughout Europe; in addition to core and core-plus properties, value-add properties are also being considered."

The open-ended special fund Savills IM European Logistics Fund 2 is fully placed. It invests in logistics properties with a Grade A property quality in the liquid European core markets. With equity commitments of EUR 560 million, the fund has clearly exceeded its target.

CONTACT US

Citigate Dewe Rogerson

Patrick Evans |
Stephen Sheppard

+44 (0)20 7025 6400
SavillsIM@citigatedewerogerson.com

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