Savills Investment Management, the international real estate investment manager, has acquired three logistics properties in France for a total €72 mln on behalf of its European Logistics Fund 3 (ELF 3).
The ELF 3 portfolio now comprises 15 properties in five countries.
In Dijon, an inner-city cross dock facility to serve the last mile has been acquired.
In the greater Toulouse area, two fully refurbished logistics properties with a total of around 21,700 m2 f lettable space were acquired, which are let long-term to a leading logistics service provider and a public institution.
Savills IM was advised on the transactions by BNP Paribas Real Estate.
Daniel Hohenthanner, director investment at Savills IM, said: ‘In the current challenging market environment, we are looking even more closely at potential investments. Properties such as these in Dijon and Toulouse, which are all located close to the city to serve the last mile, have high ESG standards and are let long-term to tenants with strong credit ratings, we are convinced that they are sustainable and defensive investments that complement the portfolio of our ELF 3 very well.’