logistics acquisition

Savills Investment Management (“Savills IM”), the international real estate investment manager announces it has forward purchased two key logistics assets in Venlo, Netherlands and Helsinki, Finland on behalf of Vestas Investment Management (“Vestas”) and a club of Korean investors.  

The assets are currently under construction and upon completion will both be leased to DSV; one of the world’s leading third party logistics operators with offices in more than 80 countries and an international network of partners and agents.

DSV will service multiple logistics functions on behalf of its clients from the Venlo facility, which comprises a cross-dock unit totalling c.100,000 sq m.  The asset in Vantaa is a consolidation of DSV’s operations in the Helsinki area and will service its air, road and sea operations from a warehouse and cross dock unit as well as its headquarters office building with a total of 65,000 sq m across the three buildings.  

These acquisitions comprise part of a wider logistics portfolio of four assets across Europe, which Vestas have acquired. 

Jon Crossfield, Co-Head of UK / Head of Strategic Partnerships, Europe says:

 "We are delighted to have acquired high quality and strategic assets on behalf of our investors. Although pricing and investor demand for logistics shows no sign of weakening, on the basis stock selection is good, we remain convinced by the sector's growth story and strong income fundamentals. We look forward to doing more"