Savills Investment Management has acquired a distribution centre in the Niedersachsenpark in Rieste (Münster/Osnabrück region) for the pan-European Spezialfonds Savills IM European Logistics Fund 2.
The seller of the property is a fund managed by AXA IM; the price totalled €26 million.
According to a statement, a DAX company has a long-term lease agreement for the distribution centre with 44,100 sqm in total area, and plans to process its online business there. The property is likely one that was formerly used by PSA and leased last year by Adidas.
Jones Day has advised Savills Investment Management in the transaction with a team led by Real Estate partner Nicole Kadel.
Involved fees earner: Nicole Kadel – Jones Day;
Law Firms: Jones Day;
Clients: Savills Investment ;