AEW has bought a newly developed logistics asset in Poland for an unnamed German pension fund.

The €68.9bn global real estate investment manager said the asset in Warsaw was acquired on behalf of a separate account mandate from Panattoni.

The asset comprises 26,000sqm of space across two buildings which are 75% let to three tenants, and the second building is due for completion in the current quarter.

Lars-Henning Pylla, fund manager at AEW, said: “This acquisition complements the mandate’s existing portfolio which now comprises seven assets, and we continue to implement a robust and future-proof investment strategy throughout Europe’s core regions.”

Nikos Koulouras, head of investments for private equity funds, said: “Sourcing and securing an asset of this quality through an off-market transaction demonstrates our abilities in the logistics sector.

“From structuring and investing in big-box industrial units to last-mile distribution hubs, we are active across the risk-return spectrum and work alongside leading development partners across Europe.

“We have a strong conviction in the fundamentals of the Polish economy and it is an area where we expect to undertake further investments.”

To read the digital edition of the latest IPE Real Assets magazine click here.

Topics

Related Companies