Savills Investment Management (Savills IM) has sold a logistics property in Torsvik near Jönköping, Sweden, on behalf of its Nordic Logistics Fund, to DWS for € 141.6 million
DWS has acquired the logistics property in Sweden on behalf of one of its German open-ended retail real estate funds.
Savills IM had acquired the complex, which consists of three logistics properties, in 2014 for its German club deal special fund.
Built in 1997, 2007 and 2016, the components have a total lettable area of c. 112,000 sq m. The Torsvik submarket is centrally located in the logistics triangle of Stockholm, Gothenburg and Copenhagen. The asset has excellent motorway and rail connections to the region, ports of Gothenburg and Oslo as well as Jönköping airport.
The entire logistics complex is fully let to Swedish electronics retailer Elgiganten.
“We capitalised on the strong market demand for large-scale logistics properties to sell this complex. Jönköping is one of the most important logistics locations in Sweden and has very low vacancy rates. We have realised the value of this fully and long-term let logistics complex in accordance with the strategy of the club deal fund in the interests of our investors,” said Peter Broström, Head of Nordics at Savills IM.
The Savills IM Nordic Logistics Fund is a club deal launched in 2014 as a German real estate special fund and comprises a portfolio of 12 properties in Sweden, Denmark and Finland and Norway with a volume of c. EUR 400 million. Savills IM manages properties in the Nordics with a total value of c. EUR 1.5 billion.