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Savills IM acquires Paris logistics property from Barings
Transactions - APRIL 4, 2019

Savills IM acquires Paris logistics property from Barings

by Jody Barhanovich

Savills Investment Management (Savills IM) has acquired a newly-constructed prime grade A distribution warehouse in Greater Paris, on behalf of its European Logistics Fund 2 (ELF 2). A sales price was not disclosed.

The asset was acquired from Barings, a global diversified real estate investment manager, acting on behalf of institutional investors.

The asset is located in Le Coudray-Montceaux on the outskirts of Paris and in a strong logistics location along the “La Dorsale” logistics axis, which runs from Lille via Paris and Lyon to Marseille.

Barings agreed to forward fund the speculative development in 2017, and the distribution warehouse was completed in September 2018. This is Barings’ first sale in France after having entered the market in 2016.

This is Savills IM’s second purchase in France for ELF 2 within a few weeks. The manager acquired another distribution warehouse in the Lyon region. The fund now holds a total of 16 properties in six countries, four of which are in France.

 

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