AEW, announces the purchase of a Grade A distribution warehouse in Utrecht, the Netherlands. The development has been acquired in a sale and leaseback transaction on behalf of a German pension fund from DHL. The asset will benefit from a 10 year firm lease with DHL Parcel.
The BREEAM certified development will comprise ca. 15,200 sqm of Grade A logistics space. It is situated in Lage Weide, a strong and well-established area of Utrecht that is close to the city centre and adjacent to the motorway connecting Amsterdam to the South of the country (A2) and to Germany (A12). The investment is underpinned by the region’s strong fundamentals, with limited warehouse vacancy and scarcity of land for development.
This is the fourth acquisition for the separate account mandate since inception in 2019, following acquisitions in Germany, Finland and Spain. The mandate has a Pan-European strategy and aims to establish a diversified real estate portfolio focused on commercial and residential assets located in growth markets.
AEW is one of the world’s largest real estate asset managers, with €70.2bn of assets under management as at 30 June 2020. AEW has over 700 employees, with its main offices located in Boston, London, Paris and Hong Kong and offers a wide range of real estate investment products including comingled funds, separate accounts and securities mandates across the full spectrum of investment strategies. AEW represents the real estate asset management platform of Natixis Investment Managers, one of the largest asset managers in the world.
As at 30 June 2020, AEW managed €33.6bn of real estate assets in Europe on behalf of a number of funds and separate accounts. AEW has over 400 employees based in 9 offices across Europe and has a long track record of successfully implementing Core, Value-Add and Opportunistic investment strategies on behalf of its clients. In the last five years, AEW has invested and divested a total volume of over €20bn of real estate across European markets.
Source : Company