AEW Europe has completed its fourth investment for its value-added European Property Investors Special Opportunities (EPISO) fund.
The firm has purchased a 41,722-square-metre logistics unit at Central Park, Rugby, in the Midlands, from Standard Life for £26.85 million ($37.81 million; €28.6 million). The unit, which was originally developed by Denver-based industrial developer ProLogis, is leased to media company Pearson Shared Services for a remaining term of 10 years.
It is the second time that AEW Europe has dipped into the UK logistics market for its EPISO fund, which was launched in 2008. It previously purchased a unit in Dartford, south east of London, let to British supermarket chain Sainsbury’s.
“This is the second in what we hope will be a series of acquisitions,” said Rob Reiskin, head of investments for AEW Europe, in a statement.
AEW Europe has more than 250 staff and operates from 11 offices in Europe. Together with its US and Singapore affiliates, the firm manages approximately $30 billion in gross assets.