Aviva Investors has acquired a newly-developed 12,000sqm logistics hub located in Germany from Scannell Properties.

The manager said the fully-let asset located in the ConneKT Logistics Park in the Kitzingen region of Bavaria was acquired on behalf of its perpetual capital portfolio.

George Fraser-Harding, the head of European real estate funds at Aviva Investors, said: “We are pleased to continue the growth of our European real estate strategy with this strategic acquisition of a core asset in Bavaria.

“Let to a high-quality tenant on a multi-year lease and well-positioned geographically, the hub complements and diversifies our existing portfolio of logistics assets in continental Europe, whilst its sustainability credentials should make it an attractive proposition well into the future. All of this will contribute to delivering positive long-term performance for our investor clients.”

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