AEW Europe has acquired a French logistics portfolio for €200 million from Munich-based property asset manager GLL Real Estate Partners.
The Paris-based real estate investment manager acquired the ‘Corridor’ portfolio for its core logistics platform, the Logistis Fund.
The portfolio comprises eight, multi-tenant logistics assets totalling 3 million square feet, situated in prime logistics locations around Lille, Le Havre, Paris and Lyon.
The firm invested €1 billion across sixteen assets on behalf of Logistis in 2015 and increased the total asset value of the Logistis platform to circa €2 billion.
“Following the acquisition of Corridor, we have now allocated 80 percent of Logistis’ investment capacity and have reached a 99 percent occupancy rate in the existing investment portfolio,” commented Rémy Vertupier, Logistis’ fund manager.
Logistis is a property vehicle with a strategy to build a portfolio of Grade A logistics parks in prominent sites across Continental Europe.
The platform was created at the end of 2011 when AEW Europe merged three Logistis funds into one with a combined €513 million of equity commitments. AEW Europe then raised a further €820 million in fresh commitments at the end of 2014.
JLL was the advisor for the sales of Corridor portfolio.