Photo credit © Monnaie de Paris
(Boursier.com) — AEW, one of the world leaders in real estate investment and asset management, announces that it has finalized the off-market acquisition of a new and fully leased logistics asset in Hanover-Sehnde, in Germany, on behalf of its pan-European core open-ended fund EUROCORE.
The asset, consisting of two logistics buildings with five modern units and a total rental area of approximately 50,200 m(2), is fully leased to Kühne + Nagel, one of the world’s largest logistics service providers, and at Picnic, one of the leading online supermarkets in Europe.
The asset displays strong sustainability credentials and targets the DGNB “Gold” label. Photovoltaic panels, aerothermal heat pumps and charging stations for electronic vehicles are installed. In addition, the asset has a partially green facade as well as LED lighting.
The warehouse is located in a prime location close to the A2 and A7 motorways, providing access to Germany’s east-west and north-south routes, as well as the local public transport network. Located less than 20 minutes east of downtown Hannover, the asset serves a large market of 600,000 consumers.
Jeffrey King, Fund Manager at AEW, comments: “Since its launch, EUROCORE has invested €525 million across seven countries in logistics, residential and life sciences assets. This is the second acquisition of a logistics asset in Germany for our EUROCORE fund and we continue to see value in strategically located assets that meet long-term tenant requirements.”
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