Savills Investment Management (SIM) has acquired a logistics portfolio from CBRE Global Investors, comprising two warehouses located in Wijchen and ‘S Heerenberg, the Netherlands. The portfolio has a lettable floor space of approximately 45,000 sq m.
Maurice Stieger, Asset & Transaction Manager at CBRE Global Investors, says: “This is a strategic disposal in line with our business plan, following a previously acquired larger portfolio. With this sale, we are creating room to further grow the portfolio through new transactions within the Netherlands and the rest of Europe.”
Marcel Fleminks, Director Investments, Co-Head the Netherlands at Savills Investment Management, says: “This portfolio is a core Dutch logistics investment opportunity in the European market. The size of the assets, in prime locations, and a fully let income profile with steady cashflows attracted wide investor interest. We are therefore very happy to have successfully secured this investment for our European Logistics Fund 3.”
Douglas van Oers, Director Logistics & Industrial at Savills in the Netherlands, comments: “As more capital has flooded into the logistics sector, prices have risen and we expect this to continue through the course of the next two to three quarters. It’s not just the number of interested parties but also the amount of capital they have to invest.
“Portfolios are trading particularly well, with premiums of anywhere between 5% and 20% being paid. As we look back, this year has reset the dial for the sector in terms of its relative value within the real estate market, which the underlying fundamentals and growth trajectory wholly support.”
Savills, Dentons and Drees & Sommer advised SIM during the acquisition. CBRE Global Investors was advised by JLL.