Savills Investment Management acquires new logistics building in France for German pension fund
April 2025
Frankfurt, 16 April 2025: Savills Investment Management (Savills IM), the international real estate investment manager, has acquired a newly constructed logistics property in north-west France on behalf of a southern German pension fund.
The portfolio has been built up for the German pension fund since 2015 and has grown to include 13 properties in five European countries.
The asset was developed by Virtuo Industrial Property with the support of Alteo IM, which acted as asset manager and secured development financing through structuring a pool of investors around the developer and private investors.
The Grade A logistics property, which completed in December 2024, is centrally located between Paris and Le Havre, near Rouen. It benefits from direct access to the A13 motorway and its proximity to the greater Paris area. The entire rental space of 22,550 sqm is fully let on a long-term lease to the transport and logistics company De Rijke.
The modern building fulfils high ESG standards and is designed to be energy-efficient. It has automatic temperature regulation, an intelligent building management system, LED lighting, reversible heat pumps and charging stations for electric vehicles. In the coming months, a photovoltaic system will also be installed on the roof, for which a long-term lease agreement has been concluded with the photovoltaic operator Green Yellow. The logistics building also has a BREEAM Excellent certification.
Patrick Griesbeck, Senior Investment Manager at Savills IM, says:
“We acquired the logistics property on behalf of a long-standing investor. It fulfils the criteria in terms of location and connectivity, high third-party usability and convincing ESG quality, and contributes to the further diversification of the portfolio. The logistics sector continues to benefit from solid fundamentals and structural growth and provides stable returns even in cyclical market phases. At the same time, the supply of space in European logistics hotspots remains limited and ESG requirements are growing. We are continuing our search for suitable properties for our funds and mandates.“
Laurent Vouin, Head of France / Belux at Savills IM, adds:
“The acquisition of this modern and sustainable logistics property underlines our strategy of making targeted investments in high-quality properties in strategically important locations. France remains an extremely attractive market for logistics investments, driven by strong demand for well-located, energy-efficient space. This is reinforced by e-commerce, the reorganisation of supply chains and the growing importance of proximity to major transport hubs. With this acquisition, we are adding another property in one of Europe's most dynamic logistics markets to the portfolio of our investment mandate.”
Savills IM was advised on the transaction by Archers (legal), Savills (technical and ESG) and Allez & Associés (property legal / notary).
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New logistics building in north-west France, Picture source: Savills