AEW has raised an additional €750m for its European logistics strategy, taking the Logistis fund’s total net equity to €2.3bn.
The real estate manager said the additional equity raised will allow the fund to grow to around €4bn of assets under management, largely through speculative developments.
The new equity, which has been raised entirely from existing investors, will facilitate the platform’s further expansion in continental Europe, it said.
The objective for Logistis’ is to continue to diversify and intensify its footprint across the main European logistics hubs, “deploying a develop-to-core strategy” focused on “creating strategic assets”, from large multi-modal logistics parks to urban logistics platforms, the manager said.
Rob Wilkinson, CEO of AEW in Europe, said: “Fast-changing consumption trends, the growing penetration of e-commerce and new technologies are all reshaping supply chains and underpin the strong yet growing demand for well-located flexible logistics space.
“We are well-positioned to leverage both AEW’s experience and our build-to-core strategy to grow the fund and sustainably take advantage of these market tailwinds.”
Rémy Vertupier, Logistis fund manager said: “We seek strategic locations from which large and flexible assets can be developed speculatively, and we partner with specialist developers looking for early-stage equity backing.
“In the current market conditions, this approach bridges our end users’ requirement for strategically located grade A space and the expectations of our investors: building a well-diversified pan-European platform of prime assets and delivering sustainable performance.”
Established 20 years ago, the Logistis platform has built up a portfolio in France, Germany, Belgium, the Netherlands, Poland, the Czech Republic, Italy and Spain.