Savills IM acquires distribution center near Amsterdam for European logistics fund

Savills Investment Management has acquired a newly constructed distribution center near Amsterdam for €46.9 million ($55.1 million) on behalf of its European Logistics Fund 3 (ELF 3). The seller is VDG Real Estate.

The acquisition is a recently completed grade A distribution center with 23,650 square meters (254,570 square feet) of leasable space, around 60 percent of which is long-term leased to a logistics service provider specializing in air and sea freight.

The asset is in the Schiphol Trade Park, an ecological showcase. The modern facility is in the immediate vicinity of Schiphol Airport, which is one of the largest cargo airports in Europe. There is 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.

This is the fourth purchase in the Netherlands made on behalf of ELF 3 s