European Logistics Fund 3 Acquires Amsterdam Distribution Centre
Savills Investment Management (Savills IM) has acquired a newly completed distribution centre near Amsterdam, the Netherlands from VDG Real Estate for EUR 46.9 million on behalf of its European Logistics Fund 3.
ELF 3 is an open special alternative investment fund targeted at international investors, with the purchase representing the fourth in the Netherlands for the fund since its launch at the end of 2019. The other purchases have included centres in Den Bosch, North Brabant, Heerenberg and Wijchen in Gelderland.
The recently completed Grade A distribution centre offers 23,650 square metres of lettable space, around 60 per cent of which is let long-term to a logistics service provider specialising in air and sea freight. BREEAM "Excellent" sustainability certification is currently in progress.
The asset is located on the Schiphol Trade Park, an ecological showcase and modern facility in the immediate vicinity of Schiphol Airport, which is one of the largest cargo airports in Europe. It benefits from a direct link to the main A4 transport axis, which connects to The Hague, Rotterdam and onto Antwerp. The excellent transport links make it ideal for transport and logistics companies in one of Europe's most attractive logistics markets.
Further acquisitions on behalf of ELF 3 in Poland and Sweden are at advanced stages.
Daniel Hohenthanner, Director of Investment at Savills IM, comments: "We are delighted to have acquired yet another attractive property in one of Europe's largest metropolitan regions for ELF 3. We have again used our excellent market contacts to secure this asset off-market."
Savills IM was advised on the transaction by Savills (commercial), Dentons (legal) and Drees & Sommer (technical).