Savills IM acquires French logistics property for German pension fund
Savills Investment Management (Savills IM) has acquired a logistics building near Angers, in the west of France, from an Action Group company as part of a sale-leaseback transaction.
The purchase was made on behalf of a German pension fund. The portfolio, built up since 2015, has now grown to 11 properties in Germany, France, Italy, Luxembourg and the Netherlands, including one property under construction.
The modern logistics property, completed at the end of 2020, is located in Verrières-en-Anjou near Angers, in the center of the French region Grand Ouest. The strategic location in the direct vicinity of Angers, with direct access to three motorways, enables efficient deliveries to all the conurbations in western France (Nantes, Rennes, Tours, Le Mans and Poitiers) as well as the greater Paris area. The approximately 70,000 square meters (753,000 square feet) of lettable space is fully let to the nonfood discounter Action on a long-term basis.