Asset manager AEW Europe has announced the purchase of 250,000 m2 of land for logistics development at Schiphol Airport near Amsterdam, on behalf of its Logistis fund.
Asset manager AEW Europe has announced the purchase of 250,000 m2 of land for logistics development at Schiphol Airport near Amsterdam, on behalf of its Logistis fund.
The vendor is Chipshol, a private Dutch real estate firm. Financial details were not disclosed.
This transaction marks the first step in the development of a 100,000 m2 logistics park comprising three buildings, the construction of which should commence upon building permit approval.
Logistis will develop the park alongside its local partner, Borghese Logistics.
This is Logistis’ third acquisition in the Netherlands in 2015, adding to the purchase of the 50,000 m2 Schneider Electric logistics platform in Helmond (Eindhoven) and the 18,000 m2 Riviera Maison asset located on the Amsterdam harbour.
The fund already owns over 1.8 million m2 in France, Italy, Spain, Benelux, Germany and Central Europe.
'This transaction highlights AEW Europe’s teams’ capacity to source investments at a very early stage and to thus develop large scale logistics parks in prime locations. This strategy, which has been part of the LOGISTIS history since the Fund’s inception in 1999, enables us to aim for durable value creation for our investors,' commented Rémy Vertupier, fund manager of Logistis.
AEW Europe was advised by Loyens & Loeff on the deal.
