Savills Investment Management (Savills IM), the international real estate investment manager, has added two Grade A logistics assets in Dettelbach, Lower Franconia, near Würzburg, to a European Logistics strategy. AEW was the vendor of the off-market transaction. The purchase price has not been disclosed.
With these acquisitions, the strategy´s portfolio has expanded to 21 logistics assets across seven European countries. The addition of the two Dettelbach assets increases the strategy’s exposure to Germany to three assets, following the earlier acquisition of a fully-let logistics complex in Verden, Lower Saxony. These investments further enhance the portfolio’s geographic diversification, which maintains a strong occupancy rate of approximately 95 percent.
The fully let Dettelbach assets together comprise approximately 97,600 square metres of lettable space and are leased on a long-term basis to a German fashion retailer and a global logistics service provider. Completed in 2023, the Grade A logistics facilities are located within the established industrial area of Dettelbach and benefit from their location at the intersection of the A3 and A7 motorways. This strategic position provides excellent access to Germany’s key north–south and east–west transport corridors, making the assets well placed to serve both national and international distribution networks.
The assets were developed on a brownfield site and hold DGNB Platinum and DGNB Gold certifications, respectively.
“With this off-market acquisition, we have secured two high-quality logistics assets featuring long-term leases at a strategically important logistics location in Germany. The assets benefit from modern specifications, strong ESG characteristics and excellent connectivity to major national and international transport networks,” said Sebastian Schambeck, Associate Director Portfolio Management at Savills IM. “We are continuing to systematically expand the strategy’s allocation to Germany, further enhancing portfolio diversification, with additional attractive acquisition opportunities in the pipeline.”
Tim Ulrich, Head of Transactions Germany, Austria & Switzerland at Savills IM, added: “This transaction ranks among the largest logistics transactions in Germany this year and demonstrates that attractive investment opportunities can still be realised in a persistently challenging market environment. The successful completion reflects rigorous due diligence and a disciplined selection process. In parallel, a strong acquisition pipeline is maintained across sectors for our funds and mandates, with further opportunities under review. More broadly, we are seeing initial signs that the transaction market is beginning to regain momentum. We are currently seeking investment opportunities across Europe in the logistics, living, food retail and prime office segments for capital to be deployed.”
Noerr, BNP Paribas RE, Kroll REAG, BDO and GMA advised Savills IM on the transaction. AEW was advised by GSK Stockmann and Cushman & Wakefield.