AEW has bought a last-mile logistics development in Germany from ecoPARKS for its urban light industrial fund.
The real estate fund manager said it has acquired the 27,000sqm land plot in the Rhine-Ruhr Valley to speculatively develop a 16,200sqm logistics facility on behalf of its ULLIS fund.
AEW will partner with developer ecoPARKS to deliver the building, which is expected to be completed by the third quarter of 2025.
Matthieu Samaran, investment director at AEW, said: “This acquisition fits perfectly with ULLIS’s strategy of creating a portfolio of high-quality urban logistics spaces located in Europe’s major metropolitan areas, of which the Rhine-Ruhr Valley in Germany is one.
“The land we have acquired is situated in a densely populated region of Germany and a hub for activity for a number of different industries.”
This deal marks ULLIS’s fifth acquisition in Germany, where the fund now owns more than 65,000sqm last-mile industrial and logistics space. In total, the ULLIS owns 135,000sqm of such properties across Europe.
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