Savills Investment ManagementSavills Investment Management (Savills IM) has sold a logistics warehouse portfolio consisting of three freehold assets in Borås, Ljungby, and Halmstad in Southern Sweden, on behalf of its Nordic Logistics Fund. Niam acquired the portfolio, establishing their new Nordic Logistics Portfolio.
The assets are fully let to well-known logistics operators and publicly financed tenants, situated in strategic locations linked to European motorways and fundamental infrastructure. Built in 2009-2015, the premises are modern and of high quality with good specifications for logistics and a total lettable area of around 93,000 square metres.
During the ten-year hold of the assets, Savills IM has conducted an active ESG strategy as part of the business plan, including replacement to LED in all buildings, installation of solar panels for two of the assets, implementation of green leases and GRESB reporting as well as tenant satisfactory surveys – amongst other measures. All three assets have ambitious environmental certifications including BREEAM New Construction and GreenBuilding.
The Savills IM Nordic Logistics Fund is a club deal on behalf of German institutional investors launched in 2014 as a German real estate special fund. At launch, the fund acquired a logistics portfolio which comprised 11 assets in Sweden, Denmark, Finland and Norway. Since then, a further asset in Sweden was acquired and six assets were sold, most recently a portfolio in Denmark consisting of four assets in December 2021.
Savills IM currently manages properties in the Nordics with a total value of c. EUR 1.6 billion, consisting of residential, retail, logistics and office properties in Sweden, Denmark and Finland.
Peter Broström, Head of Nordics at Savills IM, comments: “The demand for prime logistics assets in the Nordic region remains high despite the current market headwinds. We are delighted to hand over to Niam the management of this solid portfolio benefiting from strategic logistics hub locations, a strong tenant base and great ESG credentials. This sale is in line with the fund’s strategy, and we are capitalising on the initiatives that have been undertaken during our ownership, as well as on improving values, which will benefit our investors. Going forward, we continue to look for new investment opportunities where we can use our extensive network and long track record within logistics in the Nordic market to add value on behalf of our clients.”
Savills IM was advised by DLA Piper (legal) and CBRE (commercial) in the transaction.
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