International property fund manager Cordea Savills said on Tuesday that it has completed the first acquisition for its European Commercial Fund. The fund, which invests in commercial assets across the major economies of Western Europe, has purchased a retail warehouse in Vaxjo, Sweden, for EUR 30 mln. The 22,894 m[sup]2[/sup] retail warehouse park was acquired from Schaumann Development and KAEC Holding, and is fully let on 10-year leases to a range of tenants including DIY store K-Rauta, electronics retailer Media Markt and Jula.
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