Savills IM sells distribution centre in Moerdijk for European logistics fund to LaSalle

9 September 2021

Savills Investment Management (Savills IM), the international real estate investment manager, has sold a distribution centre in the port area of Moerdijk, in the Netherlands, from the European Logistics Fund 2 (ELF 2) portfolio. The buyer of the property is a fund managed by LaSalle Investment Management. The property comprises around 21,000 square metres of distribution space and is fully let to a Dutch logistics service provider.

Savills IM acquired the property in January 2016. In the course of active portfolio management, the positive market environment with high demand for logistics properties was used for the first sale of the fully invested ELF 2 and thus for the realisation of the value appreciation. It is planned to reinvest the freed-up capital in the short term. After the sale, ELF 2 holds 27 properties in six European countries with a total volume of around EUR 1 billion.

Moerdijk is one of the most important logistics locations in the Netherlands. The property is located at a trimodal hub - with direct access to motorways, sea and rail transport.

Savills IM was advised on the transaction by TLF Real Estate (commercial), Simmons + Simmons (legal) and Savills (technical). LaSalle was advised by Solid Attorneys (Legal), PWC (Tax), Drees & Sommer (Technical & Environmental), and Savills (Commercial).

Daniel Hohenthanner MRICS, Director Investment of Savills IM, says:

We have taken advantage of the high market dynamics in the Dutch logistics market and achieved a very good result for our investors with this sale. At the same time, we continue to be active as a buyer for our logistics funds and mandates. This year we have already completed eight logistics transactions with a volume of around 530 million euros for our investors. Further properties, among others in Poland and Sweden, are in exclusivity and advanced purchase review.

CONTACT US

Citigate Dewe Rogerson

Patrick Evans | Alex Hogan

+44 (0)20 7025 6400

SavillsIM@citigatedewerogerson.com

“We have taken advantage of the high market dynamics in the Dutch logistics market and achieved a very good result for our investors with this sale.”

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