Allianz Real Estate said on Thursday that it has entered into an agreement to acquire a portfolio of five Grade A logistics facilities in three European countries in a forward transaction with German logistics group DHL.
Set to complete between Q1 2023 to Q1 2024, the portfolio represents one of Allianz Real Estate’s largest single logistics sector acquisitions, in terms of gross leasable area, to date: in total the five facilities will cover over 200,000 m2. Financial details were kept confidential.
DHL, responsible for the development and delivery of the assets, will occupy at least 85% of the facilities on long-term leases post completion. The facilities are located in the Netherlands, Poland and Finland and cover four core European logistics sub-markets, including Eindhoven and Warsaw/Gorzow, with the facilities in Helsinki and Warsaw/Gorzow becoming Allianz Real Estate’s first ever logistics assets in Finland and Poland.
The facilities being developed will have modern technical specifications, reflect the DHL Campus concept and become mission-critical hubs for DHL and its national and international customers.
They will aim for high sustainability criteria, including BREEAM Excellent and EPC A ratings, and be compliant with EU Taxonomy. The assets will undergo a Carbon Risk Real Estate Monitor (CRREM) assessment to ensure alignment with rigorous decarbonisation and energy efficiency pathways and Allianz Real Estate’s own net-zero programme.
In addition to the five facilities under construction, the agreement foresees the potential future acquisition by Allianz Real Estate of additional facilities in Europe in future.
The firm’s global logistics portfolio has grown to €14.2 bn in assets under management, of which €7.2 bn is in Europe.
Transactions in 2022 include the forward purchase of Multi Business Hub Mittelrhein, a prime logistics center in Polch, Germany; continued investments with long-term partner VGP; the acquisition of a three-asset, Grade A portfolio in the Nordics; and a seven-year refinancing facility to Intospace for six assets in the Netherlands.
‘This high-profile transaction with a new prime partner in DHL further underscores the value Allianz Real Estate places on high-quality logistics assets in core markets in both established and fast-growing sub-markets,’ said Kari Pitkin, head of Business Development Europe, Allianz Real Estate.
Joe Mikes, global head of Real Estate Solutions at DHL Supply Chain, added: ‘We are very proud to be able to offer our clients effective growth opportunities, with warehouses that are not only located in core markets and fulfill our clients’ needs, but also meet the highest ESG and sustainability criteria.’
