AEW raises a further €400 million for LOGISTIS

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AEW announces that it has raised an additional €400 million in equity for LOGISTIS (the ‘Fund’), just 18 months after closing on €820m for the platform.  It takes the Fund’s total equity to €1.7bn.  The new equity has been raised entirely from existing investors, which include a number of prominent institutional investors from across Europe and Asia.

 

LOGISTIS’ strategy is to continue to develop its portfolio of Grade A logistics parks in strategic locations across the main logistics hubs in Continental Europe. The additional equity raised will allow the LOGISTIS platform to grow to around €3bn, with the next phase of investment focusing predominantly on increasing exposure to Germany and Benelux, as well as other key European markets, to complement its existing portfolio of prime assets.  The Fund will expand its European footprint in line with the existing strategy of acquiring standing assets and developing logistics parks in partnership with its network of preferred development partners.

 

The LOGISTIS platform was created 17 years ago, making AEW one of the first European investment managers to enter the logistics space, and since then it has developed a long term track record of outperforming its benchmark indices. LOGISTIS aims to provide investors with an attractive income return, with the current portfolio comprising 99 Grade A logistics assets (63 standing assets and 36 assets under development) located across 39 sites in France, Germany, Belgium, the Netherlands, Poland, the Czech Republic, Italy and Spain, with a total value of approximately €2bn.

 

Rob Wilkinson, Chief Executive Officer of AEW Europe, commented: “This is an important vote of confidence in our LOGISTIS platform from our investors and demonstrates the strength of the team and their ability to deploy a significant amount of equity into an extremely competitive market in a short period of time and in line with the Fund’s objectives.  We value having such a supportive group of investors and we look forward to growing the platform with them even further.”

 

Remy Vertupier, Fund Manager of LOGISTIS said: “The last 18 months have seen a huge period of growth for LOGISTIS and, having fully committed the equity we raised at the end of 2014, we have a pipeline of attractive opportunities across our target markets as the demand for high quality logistics properties continues to outweigh supply.  Expanding further will allow the platform to benefit from our relationships with the leading logistics operators and retailers, whilst maintaining attractive returns for our investors.”

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