Savills IM achieves full occupancy at prime Logistics asset in Spain

International real estate investment manager Savills Investment Management (Savills IM) has achieved full occupancy at a modern urban logistic scheme in Malaga, Spain.
The asset, which was initially acquired as a speculative forward commitment, forms part of Savills IM’s European Urban Logistics & Industrial Fund (“EULIF”) portfolio. The seven unit multi-let prime logistics scheme extends across 42,500 sqm and features a BREEAM Excellent New Construction rating, LED lighting and a PV-ready roof.

The scheme is strategically located to provide excellent access to major consumer hubs across Andalusia as well as transport and infrastructure networks. It is located less than seven kilometers from Malaga city centre, while Malaga-Costa del Sol Airport is a 10 minutes’ drive away. The A-7 Mediterranean motorway and the MA-20 ring road are directly accessible.

Spain is a key target market for EULIF, an open-ended core/core+ vehicle investing in a range of industrial and logistics assets in Europe’s most supply-constrained markets. The fund targets standing assets as well as development and refurbishment projects, where it leverages Savills IM’s local origination function and in-house asset management capabilities to sources and acquire: core, manage-to-core, and build-to-core assets.

EULIF’s portfolio currently totals c. 85,000 sqm cross 6 assets in Spain, France, Sweden and Germany, forming part the wider Savills IM European industrial and logistics portfolio. Through various funds and mandates in industrial and logistics, Savills IM manages over €7.5bn across 260+ assets in 11 European countries.

Evert Castelein, Fund Director, European Logistics, said: “Lease up at our Malaga asset is further proof that occupier demand is increasingly polarised, where occupiers are actively competing for well-located, high-quality and sustainable buildings that meet modern operational requirements, while older, secondary stock that is no longer fit for purpose falls behind. It also demonstrates the strength of our sourcing capabilities in finding the right stock for our clients with SIMs local offices across Europe”.  As we continue to deploy capital through EULIF, we remain highly selective, focusing exclusively on the strongest urban markets and the highest quality assets where we have clear conviction in the long-term fundamentals. This disciplined approach underpins our ability to deliver resilient income and sustained performance for our investors.”