Savills IM acquires logistics property in Poland for EUR 65.5 million on behalf of VESALF I

15 February 2021

Savills Investment Management (Savills IM), the international real estate investment manager, has exchanged contracts to acquire a logistics property in Łódź, Poland, for EUR 65.5 million from Tritax EuroBox plc. 

It constitutes Savills IM’s second transaction on behalf of the Vestas European Strategic Allocation Logistics Fund (VESALF I), a pan-European logistics investment fund launched in partnership with Vestas Investment Management in late November 2020. The 100,000 sq m+ asset is leased to Castorama, a French retailer specialising in DIY and home improvement supplies, on a 6.7-year term.

VESALF I  is among the first ‘blind’ funds raised solely from Korean institutional investors to invest in European real estate, and targets core/core-plus logistics assets across all key European markets. The fund was seeded with a new 115,000 sq m unit leased to DSV in Tholen, the Netherlands, acquired late last year.  

VESALF I was represented in the transaction by JLL, Dentons, PwC and BNP PRE. 

Alistair Ennever, Director, Strategic Partnerships, Savills Investment Management, commented: 

“We are delighted to have signed the second acquisition on behalf of VESALF I. The logistics market remains a bright spot within the real estate landscape, and Savills IM is very active in the sector.  We have made a strong start to the year and look forward to further activity across Europe in the coming months.”

Tomasz Puch, Head of Capital Markets, Poland, at JLL, commented: 

“This transaction confirms the attractiveness of the Polish market for high quality, well-let logistics assets and demonstrates VESALF I’s ability to execute swiftly and efficiently to secure the right product. We expect to see Poland continue to be a highly attractive market for logistics investment for the remainder of the year and beyond, supported by strong liquidity and robust occupier fundamentals.”





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