AXA IM Alts has acquired a fully-let 63,000sqm logistics campus in Germany from ECE Work & Live for an unspecified amount.
The logistics campus, developed in 2023, is located in Möckmühl, close to Heilbronn in Baden-Württemberg, Southern Germany.
The logistics centre comprises a warehouse and office space across two buildings, AXA IM Alts said.
Philippe Grasser, the head of European transactions at AXA IM Alts, said: “The Greater Stuttgart area is one of Germany’s leading manufacturing hubs, driving demand from a range of industrial and logistics businesses for high-quality warehousing in established micro-locations which benefit from strong local and national transport links.
“This was a rare opportunity to acquire a newly developed asset with market-leading ESG credentials, offering an attractive mix of day one index-linked income and longer-term reversionary potential, in the Stuttgart logistics market, a region characterised by a muted development pipeline. It strengthens our presence in one of Europe’s top-performing logistics markets.”
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