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.”

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