International property fund manager Cordea Savills has completed the purchase of a logistics warehouse in Trappes, 30 km west of Paris for nearly EUR 21 mln excluding taxes. The acquisition was made on behalf of the European Commercial Fund from Invista European Real Estate Trust.

Although the transaction price was not disclosed, Cordea Savills said the purchase reflects a net initial yield of 7.3%.

The asset is fully let to two tenants, Nature & Decouvertes and Veolog.