Savills IM European Logistics Fund 2 now fully invested with Dutch asset

Savills Investment Management has purchased a logistics building in Venray, Netherlands, for approximately €32.5 million ($38.6 million) on behalf of its European Logistics Fund 2 (ELF 2).

ELF 2 is now fully invested at €900 million ($1.07 billion), completing the fund portfolio and underlining Savills IM’s position as one of the largest investment managers in European logistics, with approximately €4.6 billion ($5.5 billion) invested in the sector. Launched in July 2015, ELF 2 now holds 27 properties in six European countries, with German and Swiss institutional investors.

The property is fully leased on a long-term basis to the vendor, Cordstrap B.V., a leading company in the field of load securing, which uses the asset as its global headquarters.

The asset has a total rental area of around 30,000 square meters (323,000 square feet) and is located in an established logistics park. The Venlo submarket to which Venray belongs is one of Europe’s top l