Savills Investment Management said on Tuesday that it has forward-purchased two logistics assets in the Netherlands and Finland on behalf of Vestas Investment Management and a club of Korean investors.
The assets, located in the southern Dutch city of Venlo and in the Finnish capital Helsinki, are currently under construction and on completion will both be leased to third-party logistics operator DSV.
DSV will service multiple logistics functions on behalf of its clients from the Venlo facility, which comprises a cross-dock unit totalling 100,000 m2. 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 m2 across the three buildings.
These acquisitions comprise part of a wider logistics portfolio of four assets across Europe, which Vestas has acquired.
Jon Crossfield, co-head of UK and head of strategic partnerships, Europe at Savills IM said: '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.'