Savills IM, the international real estate investment manager, has completed the sale of DSV Venlo, a core logistics asset in the main logistics hub in The Netherlands. The transaction was completed on behalf of Vestas Investment Management (“Vestas”) for a total sale price of €105 million.
The disposal is the realisation of five-year business plan and crystalises a significant capital value uplift since acquisition, delivering a double-digit net IRR.
The success of this project is further testament to Savills IM’s asset management capabilities, and its strategic focus on “beds, sheds, debt and APAC”, four areas that Savills IM believes have the best chance of outperformance over the coming cycle.
The asset comprises c.103,000 square metres and was acquired by Vestas in 2018 in a sale and leaseback transaction from DSV, the Dutch logistics company, immediately following construction.
The tenant originally signed up to a 10-year lease but has since extended its occupation due to the importance of this location for its logistics network in the Netherlands. The asset also benefits from BREEAM ‘Excellent’ certification.