Aareal Asset Management GmbH has acquired logistics centers totalling over €85 million for the Aareal EuroLogistics Fund. The properties are in prime logistics locations in the conurbations of Hamburg and Munich and offer outstanding technical facilities and a total area of around 88,000 m².
In Hamburg, the Aareal EuroLogistics Fund acquired a modern logistics center located at the Altenwerder container terminal from a private investor. Due to its excellent transport links, the location is in great demand with logistics companies.
Aareal EuroLogistics Fund acquired LOGICPARK Garching in Garching near Munich, a development by property company Nehls, Fäth und Bähr GmbH. LOGICPARK offers ultra-modern facilities on the city center/Munich airport motorway axis.
Charles Pridgeon, Managing Director of Aareal Asset Management, explained: "In the two vendors, we have found strong partners with whom we would like to work again in the future. In terms of strategy, we are continuing to focus on premium logistics properties in the best locations in Europe."
Aareal EuroLogistics Fund invests more than €600 million in selected logistics facilities throughout Europe. Aareal Asset Management initiates and manages real estate funds for institutional investors. Assets under management amount to approximately €1.7 billion.
Source: Aareal Bank