AXA IM – Real Assets, a global leader in real asset investments and the leading(1) real estate portfolio and asset manager in Europe, announces that it has completed, on behalf of the AXA Logistics Europe Fund(2, the acquisition of a c. 275,000 sqm pan-European core logistics portfolio from AEW.
The portfolio, which comprises six high quality assets with an average age of 10 years, is fully let with an attractive average lease length in excess of seven years, underpinned by strong covenants. The six assets which make up the 275,000 sqm portfolio are located in Italy (two properties), France (three properties) and the Netherlands (one property) in prime logistics sub-markets including Milan, Paris, Lyon and Eindhoven, along major national and international transportation hubs that are mission critical for their tenants. Whilst predominantly occupied by single tenants, each of the properties offer attractive flexibility, providing longer-term asset management opportunities to future-proof the portfolio.
The AXA Logistics Europe Fund managed by AXA IM – Real Assets, has a portfolio of 73 assets valued at c. €1.4 billion and spread across six countries.
2. This does not constitute Financial Promotion. The content is for information purposes only.
Source : AXA Investment Managers – Real Assets