Savills Investment Management (Savills IM), the international real estate investment manager, has added two grade A logistics assets in Dettelbach, Lower Franconia, near Würzburg, to a European logistics strategy. AEW was the vendor of the off-market transaction. The purchase price has not been disclosed.
With these acquisitions, the strategy’s portfolio has expanded to 21 logistics assets across seven European countries. The addition of the two Dettelbach assets increases the strategy’s exposure to Germany to three assets, following the earlier acquisition of a fully-let logistics complex in Verden, Lower Saxony. These investments further enhance the portfolio’s geographic diversification, which maintains a strong occupancy rate of approximately 95 percent.
The fully let Dettelbach assets together comprise approximately 97,600 square meters (1,050,558 square feet) of lettable space and are leased long term to a German fashion retailer and a global logistics ser
