Savills IM acquires Polish multi-let logistics asset from 7R for EUR 101m
Savills Investment Management has completed the acquisition of a multi-asset logistics asset in Poland from 7R on behalf of Vestas Investment Management. Prime location in one of the largest automotive industry production and distribution clusters in Europe. The overall transaction volume with 7R will be in excess of EUR 101m, with financing provided by Bayerische Landesbank (BayernLB). Transaction takes Vestas’s AuM with Savills Investment Management to EUR 1.4bn in Europe spread across 15 office and logistics assets.
Savills Investment Management (‘Savills IM’) the international real estate investment manager, today announces the acquisition of 7R Park Beskid II, a multi-let logistics asset in Poland, on behalf of Vestas Investment Management (‘Vestas’) from Polish developer 7R and VRE. The transaction will complete in three phases, with the final phase in March 2022. The overall transaction volume will be in excess of EUR 101m.
7R Park Beskid II is located in the Upper Silesia region in Poland, which together with the neighbouring Bielsko-Biała, has established itself as one of the largest clusters of production and distribution facilities for the automotive industry in Europe. The region is a well-established cross-border hub, near to the border with the Czech Republic and Slovakia. The asset itself is strategically located, directly adjacent to national road 1, which connects the property to the A4 highway – the most important transportation corridor in Southern Poland.
7R have developed the scheme which comprises a c.90,000 sq. m. multi-let logistics facility made up of five buildings. Four of these are standard specification, with one build-to-suit facility for the JV between Valeo and Siemens, which was established with the ambition to develop and produce innovative drive components for use in electric vehicles. 7R Park Beskid II is certified BREEAM at Very Good level.
Savills IM were advised by Dentons (legal); Arcadis (technical and environmental) and Cushman & Wakefield (commercial), with BayernLB financing the transaction.
7R and VRE were advised by Baker McKenzie (legal) and Jones Lang LaSalle (commercial).
When preparing new investments in 7R, we focus on the high quality of our facilities, enriched with technology and ecological solutions. We are pleased that our approach attracts the interest of investors, which is confirmed by the cooperation with another prestigious entity, Savills Investment Management. I believe we have a common goal of creating long-term value for logistics facilities.
Łukasz Jachna
Chief Capital Markets Officer, Board Member at 7R
We are very pleased to have concluded another transaction with Vestas and their investors, particularly in this high quality scheme developed by 7R. The asset is ideally located in one of the largest automotive production clusters in Europe and has proven appeal to blue-chip tenants. We have strong conviction that this is the right asset in the right location which is set to benefit from the fundamental drivers of the logistics sector over the long term.
Alistair Ennever
Head of Industrial & Logistics, Europe, Savills Investment Management
The financing of 7R Beskid Park fits perfectly to our lending strategy which is focused on assets in core locations with long-term growth forecasts and positive ESG features. We are pleased that we have been able to support this transaction as sole underwriter and agent.
Robert Hetzner
Vice President, Real Estate Division, BayernLB
