Savills IM acquires two distribution centers in Denmark

Savills Investment Management (Savills IM) has acquired a newly built distribution center and an adjacent distribution center under construction in Horsens, Denmark, for €47 million ($55 million).

The vendor and tenant in the sale-leaseback transaction is logistics service provider DKI Logistics A/S.

The first distribution center was completed in June and has 20,800 square meters (223,890 square feet) of rental space. The second building, also with 20,800 square meters (223,890 square feet) of leasable space, is under construction and is scheduled for completion by the end of the year. The entire space has been leased to DKI Logistics for 11 years.

The acquisition was made on behalf of Savills IM’s European Logistics Fund 3 (ELF 3) and represents the fund’s first investment in Denmark. ELF 3 was launched in September 2019 to invest in high-quality distribution centers and cross-docks that can be used by third parties in Europe's core liquid logistics marke