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Savills IM buys €101m Polish logistics asset for Korean Vestas

Savills Investment Management is to pay more than €101 million for a multi-let logistics asset in the Upper Silesia region of Poland,on behalf of South Korea’s Vestas Investment Management.

The 90,000 sq m asset, 7R Park Beskid II, has been acquired from Polish developer 7R and construction company VRE. The transaction will complete in three phases, the final phase in March 2022.

7R developed the multi-let logistics facility which comprises five buildings, four of which are standard specification, with one build-to-suit facility designed for a joint venture between Valeo and Siemens for manufacturing innovative drive components for use in electric vehicles. The asset is certified BREEAM Very Good.

Savills IM was advised by Dentons, Arcadis and Cushman & Wakefield. BayernLB is financing the transaction. 7R and VRE were advised by Baker McKenzie and Jones Lang LaSalle.

“The asset is ideally located in one of the largest automotive production clusters in Europe and has proven appeal to blue-chip tenants,” said Savills Investment Management head of industrial and logistics Europe Alistair Ennever.