Savills IM sells Paris distribution centre to Aberdeen Investments

Savills Investment Management has sold a Grade A distribution centre near Paris to Aberdeen Investments on behalf of its European Logistics Fund 2 (ELF 2), which includes German institutional investors.

Le Coudray-Montceaux

The sale of the asset with BREEAM 'Very Good' certification, which Savills IM acquired in 2019, follows a competitive bidding process.
The 30,420 m2 facility in Le Coudray-Montceaux, Greater Paris, is leased to a global medical product company.
It benefits from an excellent macro- and micro-location in Greater Paris and within the French logistics corridor, which runs from Lille via Paris and Lyon to Marseille.
ELF 2, which now holds 26 properties worth around €1 bn, will reinvest the proceeds from this sale into modern distribution centres in core Western European markets like Germany, France, and the Netherlands.
Savills IM is actively seeking further European logistics investments for its funds, which have over €6.5 bn in logistics assets under management.
Sebastian Schambeck, associate director Portfolio Management at Savills IM, said: "The transaction market for logistics properties is slowly but steadily regaining momentum. We have used this point in the cycle with a substantial appetite from domestic and international investors seeking short-term reversion potential to realise the value appreciation achieved over the holding period for our investors. In parallel to such strategic sales, we are still active on the buyer side - we are continuously exploring the market for modern logistics properties in established locations for various funds and mandates."
Savills IM was advised on the transaction by JLL/Cushman & Wakefield, De Pardieu Brocas Maffei, Eversheds Sutherland, Allez & Associés, KPMG, Etyo and MDA Accounting Group. Aberdeen Investments was advised on the transaction by CBRE, LPA, Les Notaires du Trocadero, Andine, Green Affairs and BDO.