Real estate manager AEW has acquired a 97,000sqm logistics portfolio in France on behalf of a local institutional investor for an undisclosed sum.
AEW said with the addition of the five-asset urban warehouse and last-mile logistics portfolio, the total capital deployed for the mandate now stands at €195m since late 2023.
The French institutional investor’s strategy is currently focused on France, with a plan to expand into other Western and Southern European markets, AEW added.
The portfolio, consisting of seven prime urban logistics assets, spans approximately 166,500sqm and has a total occupancy of 95%.
Alexandre Petitpré, executive director, investments France at AEW, said: “We’ve been working closely with this investor to support the diversification of their real estate investment portfolio with a focus on the core logistics market in France, and this latest acquisition is a continuation of that strategy.
“Through careful asset selection, we have assembled a portfolio of high-quality, strategically located, and sustainable assets that are generating stable income and which we believe have the potential to deliver future rental growth and value creation through active asset management.
“The diverse uses of logistics space continue to make it a highly resilient asset class, underpinned by the continued growth of e-commerce and urbanisation, as well as the ongoing focus for businesses on supply chain resilience. We continue to see attractive opportunities in markets across France and Europe.”
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