AEW, one of the world’s leading real estate investment and asset managers, announces the acquisition of a fully let last-mile logistics park in the district of Marsdorf in Cologne for a pan-European separate account mandate on behalf of a German pension scheme. The seller is Cologne-based AVI Allgemeine Verwaltung von Immobilien GmbH.
The logistics park comprises three warehouses totalling c. 27,000 sq m and a recently renovated office tower, which offers c. 6,000 sq m of space. The asset is 100% let to a mixture of state-backed and private sector occupiers and has a WAULT of more than 7 years.
Situated in Cologne-Marsdorf’s commercial precinct, the asset is in an established location, close to one of Germany’s most frequented traffic hubs, the Autobahn junction Cologne-West – where the A1 and A4 cross – which connects the area with the “Güterverkehrszentrum” (GVZ) to the south. In addition, the quality of the location is reflected in its proximity to the city centre: Cologne’s Neumarkt, which is situated approximately seven kilometres away and can be reached in around twenty minutes. The public tram line 7 stop, “Marsdorf”, is also right next to the logistics park while the Bundesstraße 264/Aachener Straße provides a direct link by car.
Launched in 2019, the mandate, on behalf of a German pension scheme, has rapidly expanded its geographic diversification by deploying capital efficiently across Finland, Denmark, Spain, Poland, and the Netherlands, with this transaction adding a sixth country to the list. The mandate targets a robust portfolio of commercial and residential assets that are well placed to withstand external market effects, such as the pandemic environment.
Source : AEW