Savills IM acquires three Spanish Amazon last-mile distribution warehouses for EUR 95m on behalf of VESALF I

Alistair Ennever, Head of Industrial & Logistics – Europe, Savills Investment Management, commented: 

We are delighted with the acquisition of these ‘last mile’ facilities situated in key local markets for the occupier.  We have always retained an ambition to add a Spanish component to VESALF I, given our positive outlook for the market.  The combination of these new buildings plus the length of income made this portfolio an excellent fit.  We look forward to retaining these assets for the long-term.  By closing this investment, the fund is now over 90% invested in just over 12 months since launch in November 2020 and we are pleased to have been able to deploy this capital for Vestas and their investors in such a short space of time.  It has been a pleasure to transact with GFH and Roebuck who have proved to be an excellent counter-party.

Nick Rhodes, Managing Partner at Roebuck, commented:

Roebuck has been active in Spain since 2019 and we opened our first office in Madrid in 2021.  Over this period Roebuck has been targeting best-in-class logistics assets let to blue chip occupiers, with minimum BREEAM ratings, based on the expectation these characteristics will significantly benefit from the further penetration and enhancement of Spain’s e-commerce market.  We are very pleased to have completed the investment cycle and successfully sold this portfolio to VESALF I, which has realised an excellent return to our investors.  We will actively seek to reinvest the proceeds into the further compelling logistics opportunities in Iberia.