Savills IM buys French logistics property
Savills Investment Management is a real estate investment management arm of Savills plc. Its European logisitics fund has added a French asset to its European logistics fund portfolio. The company plans to make more purchases in the coming months.
Savills IM bought the newly built 70,450 sqm distribution centre in Belleville-sur-Saône on behalf of its pan-European Logistics Fund (ELF 2). The property has been sold for an undisclosed sum.
The property is located in Lyon. It is leased on an long term basis to the Dutch retail company Action. ELF 2 fund invests in logistics properties of Grade A quality in core, liquid European markets.
Savills IM is the thirteenth transaction made on behalf of ELF 2. Besides, the manager expects to make the purchases in the coming months.
Fulya Altunyay/ [email protected]