AEW announces the off-market acquisition of a new logistics asset in Weiterstadt, close to Frankfurt, Germany. The asset was acquired from Four Parx on behalf of an AEW fund under management for French retail investors.
The asset is ideally located in one of the main logistics markets and industrial hubs in Germany. Frankfurt’s airport, the largest in Germany, is located 20km from the warehouse and is easily accessible via the A5 motorway.
The asset, which is rented by a public institution with a firm ten-year lease, was delivered at the end of 2023 and consists of three modern, independent buildings of varying sizes totalling 7,177m2. The asset’s high degree of flexibility allows the space to be divided into up to seven units of different sizes.
The asset meets several ESG criteria, such as LED lighting, a thermally insulated façade, and charging stations for electric vehicles. It aims to obtain DGNB "Gold" certification.
Matthieu Samaran, Investment Director at AEW, says: "The Frankfurt industrial hub is among the most dynamic and stable in Germany. The quality of this logistics asset, its strong energy performance, and the long lease negotiated with a top-tier tenant make it an attractive investment that will further diversify the fund’s portfolio."
Antoine Barbier, Head of AEW Patrimoine, adds: "This acquisition perfectly aligns with the investment strategy of our fund, which has been investing across a broad spectrum of asset classes in Germany since its inception in 2021. We believe this high-quality logistics asset is well-placed to deliver an attractive return over the long term. This type of acquisition, in a favourable market context, allows for the possibility of exploring financing on attractive terms to support our strategy."
For this transaction, AEW was advised by GSK, TA Europe, and Nova Ambiente.
Photo credit: Four Parx.
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