AEW Europe, on behalf of its Logistis Fund (the ‘Fund’), has announced its acquisition of a €200m French logistics portfolio, ‘Corridor’, from a fund managed by GLL Real Estate Partners. The acquisition brings the total amount invested on behalf of Logistis in 2015 to €1bn across sixteen assets and increases the total asset value of the Logistis platform to approximately €2bn.
The portfolio comprises eight high quality, multi-tenant logistics assets totalling 280,000m², situated in prime logistics locations around Lille, Le Havre, Paris and Lyon. The existing assets in the Corridor portfolio are income producing and feature a number of potential development opportunities, enabling AEW Europe to add value over time.
The Fund’s growth strategy is focused on expanding a portfolio of grade-A logistics parks in prominent locations across main logistics hubs in Continental Europe. AEW Europe will continue to drive Logistis’ presence in the European logistics market through the acquisition of existing assets and development opportunities in 2016.
Rémy Vertupier, Logistis Fund manager said: “Following the acquisition of Corridor, we have now allocated 80% of Logistis’ investment capacity and have reached a 99% occupancy rate in the existing investment portfolio. Our investment and asset management teams have done a fantastic job in harvesting Logistis’ full potential to deliver a strong performance on behalf of our clients. Through our focused strategy and with the expertise AEW Europe has on the ground across Europe, we will continue to grow the Logistis platform through 2016 and ensure its position as a one of the leaders in the European logistics real estate market."
AEW Europe was one of the first real estate investment managers to offer a specialist logistics fund in 1999 and has since built up the existing Logistis portfolio of grade-A logistics assets in France, Italy, Spain, Benelux, Germany and Central Europe.
JLL served as advisor for the Corridor portfolio sales.
