Savills IM European Logistics Fund 2 now fully invested with purchase of EUR 32.5m Netherlands asset

17 November 2020

Savills Investment Management (Savills IM), the global real estate investment manager, has purchased a logistics building in Venray, the Netherlands, for approximately EUR 32.5 million on behalf of its European Logistics Fund 2 (ELF 2). 

This means that ELF 2 is now fully invested at EUR 900 million, completing the fund portfolio and underlining Savills IM’s position as one of the largest investment managers in European logistics with around EUR 4.6 billion invested in the sector. Launched in July 2015, ELF 2 now holds 27 properties in six European countries, with German and Swiss institutional investors.

The property is fully leased on a long-term basis to the vendor, Cordstrap B.V., a leading company in the field of load securing, which uses the asset as its global headquarters.

The asset has a total rental area of around 30,000 sq m and is located in an established logistics park. The Venlo submarket to which Venray belongs is one of Europe’s top logistics locations due to its excellent infrastructure connections and central location linking the Randstad area with others in Continental Europe. The transaction was advised by 1530 Real Estate and Simmons & Simmons for the buyer and Cushman & Wakefield for the seller.

ELF 2 was closed to new investors in early 2019, having raised EUR 560 million in equity – more than twice the original target of EUR 250 million. With a total return of around 9.0% per annum since its launch in July 2015, ELF 2 has also exceeded its return targets.

Following the highly successful placement of ELF 2, successor product ELF 3 was launched in November 2019, raising more than EUR 375 million in equity, and focuses on investments in high quality logistics assets in the liquid core logistics markets of Europe that are suitable for third-party use.

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

“The full investment of our flagship fund ELF 2 shows that even in a challenging market environment with unprecedented restrictions due to the COVID-19 pandemic, our deal sourcing and execution remains strong. 

“We are still looking for attractive logistics properties for successor fund ELF 3 as well as our individual mandates and strategic partners. Five further logistics properties in three countries are already in exclusivity and advanced stages of purchase consideration.”





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