AEW has bought three retail units located in the Bonaire retail park in Valencia, Spain for one of its private client funds.

The manager said it has acquired the fully-let units which totalling 4,584sqm on behalf of Actipierre Europe.

Financial details were undisclosed.

Carsten Czarnetzki, AEW’s head of Spain, said: “This acquisition demonstrates our ability to deploy different capital sources and strategies in the Spanish market and further complements AEW’s existing footprint of retail warehouses with this dominant scheme in Valencia.”