A European logistics fund managed by Savills Investment Management has added a newly constructed asset in Germany to its portfolio.
Savills IM said the European Logistics Fund 3 (ELF 3) fund has acquired the fully-let logistics complex in Verden, Lower Saxony from Panattoni for an undisclosed amount.
The asset comprises 59,000 square meters of warehouse space, 3,700 square meters offices and 4,000 square meters of mezzanine spaces.
The international real estate investment manager said ELF 3’s portfolio now comprises 16 properties in six countries.
Source: realassets.ipe.com on the 21th of November 2022