Real estate fund manager AEW has acquired a 19,000sqm logistics asset in France.
AEW said it acquired the newly refurbished asset in Le Bignon on behalf of a separate account mandate for French public service additional pension scheme ERAFP.
The asset was acquired from French developer 6e Sens Immobilier and is fully let to an express parcel delivery provider.
Financial details were not disclosed.
AEW manages 5.9m sqm of logistics, office and retail assets in France. The firm’s broader European logistics platform totals more than 6.8m sqm.
Thierry Locatelli, head of investment for France at AEW, said: “This off-market acquisition of a prime, grade-A logistics asset in an expanding logistics corridor in France aligned perfectly with our client’s objective to diversify their portfolio in a key European market.
“The asset has undergone substantial refurbishment, enhancing the existing structure while adding new logistics space. Securing an institutional-grade tenant for the entire building ensures stable, long-term income. This acquisition will significantly bolster our client’s real estate portfolio and its diversification, representing a high-quality, long-term investment.”
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