Savills IM sells Swedish logistics property on behalf of a German club deal fund | News

Savills Investment Management has sold a 25,700 sqm cross-dock asset in Sweden to Swiss Life Asset Managers Nordic.

Savills IM said the Gothenburg property was sold on behalf of its Nordic Logistics Club Deal fund to Swiss Life Asset Managers Nordic on behalf of one of its funds and a group of investors.

The fully leased logistics property, built in 2009 and expanded in 2014, is located in the centre of the Swedish city of Gothenburg in the Backa industrial area.

Peter Broström, Head of Nordics at Savills IM, said: “This sale demonstrates that there is strong interest in investing in high-quality logistics locations, underpinned by proximity to a capital city and strong ESG characteristics.”

The Savills IM Nordic Logistics Club Deal fund was launched in 2014 as a German real estate special fund.

“This fund has once again exceeded its performance expectations, delivering strong income and total returns over the ten years we have owned it. Backa is the tenth sale in the fund and we expect to sell the last remaining property later this year,” said Broström.

Lisen Heijbel, head of Nordic investments at Savills IM, added that the transaction “underlines our strong belief that the Nordic market for logistics transactions is back and there are competitive bids from different types of buyers”.

He added: “While we are pleased with the outcome of this sale, we continue to look for additional logistics properties to acquire in the right locations across all Nordic markets.”

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