Paris-based investment manager AEW Europe has acquired a development project in the Bonneuil logistics park near Paris from developer Sodearif, part of the Bouygues Group. The acquisition is earmarked for AEW Europe's Logistis I fund.

Paris-based investment manager AEW Europe has acquired a development project in the Bonneuil logistics park near Paris from developer Sodearif, part of the Bouygues Group. The acquisition is earmarked for AEW Europe's Logistis I fund.

Located opposite the Bourget airport, the property will offer around 11,000 m2 of space on completion planned for the end of 2011. It is fully let with a 12-year lease agreement to Deutsche Bahn’s Schenker Joyau.

The operation represents the last development project within the Bonneuil park, whose development started in 2002 with AEW Europe's Logistis II acquisition of a first logistics asset. The delivery of the latest asset will bring the total size of the park to over 100,000 m2, fully let to a number of major tenants including Actebis, Calberson-Géodis, DHL, SDV, and TNT.

BNP Paribas Real Estate was responsible for the marketing of the asset while Caisse Régionale de Crédit Agricole Mutuel de Paris et d'Ile-de-France, part of Credit Agricole, is financing the purchase.

Last week, AEW bought a 13,000 m2 office building at 23 Avenue d'Italie, in the 13th arrondissement of Paris for its AEW Imcom Un OPCI vehicle for institutional investors. The seller was a joint venture of the Captiva Capital Partners II fund and Nexity.