Aareal EuroLogistics Fund has acquired a 22,000 square metre logistics centre in Troisdorf, south of Cologne. The property is leased on a sale and leaseback basis to the logistics subsidiary of Deutsche Post World Net, DHL, and Silver Plastics, a manufacturer of plastic packaging.
Developed in 2002, the property is very close to the A-55, A-3 and A-4 motorways and ideally located for Cologne-Bonn Airport. This excellent situation enables logistics firms to handle nationwide distribution of a wide range of goods. Troisdorf is already a popular centre for major logistics companies, and in the view of Aareal Bank's asset management specialists, it will grow in popularity over the years.
Charles Pridgeon, Head of Aareal Bank's asset management group comments: "The acquisition is wholly in line with our fund strategy of concentrating on high-quality properties with excellent tenants in top locations."
Aareal EuroLogistics Fund is a closed end property fund for institutional investors with a planned investment volume of â¬ 500 million. The geographical asset focus is on growth regions in the logistics industry, particularly profiting from the expansion of the EU. As a central crossroads of distribution channels, Germany will have a major role to play. The fund is managed by Aareal Property Services in Amsterdam, which belongs to the Aareal Bank Group's Aareal Asset Management division. In the field of asset management, Aareal Bank Group offers institutional investors a broadly diversified spectrum of assets in open-ended and closed end property funds in various countries and different industries. In the last six years, it has invested over two billion euros in property, and is thus one of the leading internationally active property asset managers in Europe.
Source: Aareal Bank