Savills IM, acting on behalf of its European Logistics Fund 2 (ELF 2), has acquired a distribution centre in Beychac-et-Caillau, Bordeaux for €33m. The vendor of the property was Northwood Investors, represented by STAM Europe.
The property is a modern distribution centre covering 35,600m² and is let on a long-term basis to a subsidiary of the Carrefour Group. It is the largest of six logistics centres occupied by the tenant and benefits from having a prime location with strong transport links, including the Bordeaux ring road.
Laurent Vouin, head of France and Belux, Savills Investment Management, commented: "We are very pleased to have closed this transaction, meeting the seller’s deadlines and our fund’s objectives. We are seeing strong demand from our clients for core logistic assets ranging in size from 25m up to 100m or more. As such, we have several deals progressing in this sector and continue to look at other opportunities.”
KPMG, Savills BPC, De Pardieu, Allez & Associés Notaires and JLL Valuation acted as advisors to Savills IM. BNP Paribas Real Estate and notary Attal et associés Notaires advised the vendor.
