Asset manager AEW has completed the off-market acquisition of a newly built and fully let logistics asset in Hanover-Sehnde, in Germany, on behalf of its Eurocore open-ended pan-European core fund.
The asset, comprising two logistics buildings with five modern units and a total leasable area of 50,200 m2, is fully let to logistics service provider Kühne + Nagel and Picnic, one of the main online supermarkets in Europe.
The asset is targeting the DGNB ‘Gold’ environmental label. It also features PV installations, air source heat pumps, e-charging facilities, a partially green façade, and LED light systems.
Jeffrey King, fund manager at AEW, commented: 'Since its launch, Eurocore has so far invested €525 mln across a mix of logistics, residential and life science assets in seven countries. This is our second acquisition in the German logistics space for our Eurocore fund where we continue see value for well-located assets which meet the long-term requirements of occupiers.'
