AEWhas launched a new urban logistics and light industrial strategy (“ULLIS” or the “Platform”) with €475 million of start-up equity. The Platform is structured as a scalable partnership, targeting the development of an initial portfolio of circa €800 million. The investors that have committed to the Platform are long-term partners of AEW in the logistics sector and include PGGM, Allianz Real Estate and Crédit Agricole Assurances.
ULLIS aims to build a core portfolio focused on urban logistics and light industrial assets in major metropolitan areas of France, Germany and the Netherlands, where there is a chronic supply shortage while demand is robust and increasing. The majority of equity is expected to be deployed across brownfield build-to-core developments, which will be supported by the acquisition of some income producing assets.
The effects of structural trends supporting demand for industrial space across urban locations are likely to intensify further through growing urbanisation, the rise of urban distribution, as well as the development of industry 4.0 and emergence of partial industrial reshoring towards Europe. In this context, ULLIS will create a platform to meet the urban space requirements of the new generation of industrial companies and logistics providers.
AEW has a well-established 20 year track record in the industrial and logistics sector which spans France, Germany, the Netherlands, Belgium, the UK, Poland, the Czech Republic, Italy and Spain. ULLIS extends the existing €4 billion pan-European logistics portfolio allowing investors to leverage AEW’s extensive networks and access light industrial at scale.
Source : Company