Savills IM takes over new logistics complex in Ansbach, Germany, from ECE on schedule

18 June 2020

Savills IM has taken over a logistics complex in Ansbach, Germany, as planned following acquisition last year as part of a forward deal. The state-of-the-art building includes a distribution centre and trans-shipment hall with a total rental space of around 76,000 sq m. The developer and seller is ECE Projektmanagement, which has realised the project from planning to turnkey handover. The parties have agreed not to disclose the purchase price.

The asset was acquired on behalf of European Logistics Fund 2 (ELF 2), which owns 25 properties across six countries. ELF 2 was closed to new investors at the beginning of 2019 after raising EUR 560 million in equity commitments, more than twice the targeted amount of EUR 250 million. Due to this, a successor product, ELF 3, was launched in November 2019. The fund has already raised over EUR 300 million to date. Both ELF 2 and ELF 3 are currently in the process of additional acquisitions, further cementing Savills IM’s position as the sixth-largest logistics real estate manager in Europe, with EUR 4.4 billion in overall logistics assets under management. 

Daniel Hohenthanner MRICS, Director Investment and Fund Manager of ELF 2 and 3, Savills IM, says: 

“Despite the challenges posed by the coronavirus pandemic, the logistics complex was completed on schedule and the purchase agreement was successfully executed. This was a great achievement on the part of all parties involved and we would like to thank the seller for the successful execution of this transaction. We are pleased we were able to secure this high quality new logistics building in Ansbach for our investors in the in-demand German market. Online trading has gained further momentum in the wake of coronavirus, and such XXL distribution centres are likely to be in even greater demand in the future than was previously the case.”

Kiran Patel, Global CIO and Deputy Global CEO, Savills IM, adds:

“Our logistics platform, which was initiated in 2014, currently includes assets across more than 10 European countries. All our funds and managed accounts that have purchased logistics assets have outperformed their respective benchmarks. In view of the continued strong performance of the sector within the current uncertain climate, together with its long-term lease to a company with a strong credit rating, the property is an ideal addition to the ELF 2 portfolio.”

ECE was legally advised by trûon Rechtsanwälte on the transaction in Ansbach, Savills IM was legally advised by Jones Day. BNP Paribas Real Estate brokered the transaction. E&G Real Estate acted as intermediary for the purchase of the land by ECE. The financing bank for the logistics transaction is Münchener Hypothekenbank eG.




Citigate Dewe Rogerson

Patrick Evans |
Stephen Sheppard

+44 (0)20 7025 6400