London-based property fund manager Savills Investment Management has completed the acquisition of three freight terminals in Berlin, Leimen near Heidelberg, and St. Ingbert in Saarland, Germany.
Constructed in 2014, the three properties each feature 5,000 square meters of rental space and are leased out to Deutsche Post Immobilien with an average remaining term of about ten years.
Savills Investment purchased the assets from AGRAF German Real Estate Holding No. 1, a fund managed by Aquila Capital.
With a total investment of 48.7 million euros ($54 million), Savills Investment Management acquired the three freight terminals on behalf of European Logistics Fund 2.