Savills Investment Management has acquired three last-mile logistics facilities in Spain for a total of EUR95 million.
The assets, which are all leased to Amazon, provide a total of 140,000 m2 of space in the cities of Murcia, Alicante and Valladolid.
Savills Investment Management closed the acquisition, on behalf of its Vestas European Strategic Allocation Logistics Fund (VESALF I), from landlords Roebuck Asset Management and GFH Financial Group.
The properties have an average rental period of 12.85 years and will be certified by BREEAM as "Very good".
Nael Mustafa, GFH's co-chief investment officer, said: 'We still believe in the general fundamentals of investing in logistics assets. Our investment in Amazon's last-mile fulfillment warehouse portfolio has delivered the targeted return and desired capital appreciation. Amid favorable market conditions, we have decided to make a timely and profitable early exit to ensure a strong return for investors.'
Source: propertyeu.info on the 9th of February
(https://propertyeu.info/Nieuws/Savills-IM-picks-up-Amazon-sheds-for-95m/93aa5af4-0f09-4670-94e8-b30c199aee5f)