AEW has purchased a grade A distribution warehouse in Utrecht, the Netherlands.
The deal was made in a sale-and-leaseback transaction on behalf of a German pension fund from DHL. Financial terms were not disclosed.
The development will consist of 15,200 square meters (163,611 square feet) of grade A logistics space and will have a 10-year firm lease with DHL Parcel. AEW said the investment is underpinned by the region’s strong fundamentals, with limited warehouse vacancy and scarcity of land for development.
This marks the fourth acquisition for AEW’s separate account mandate since it was launched 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 in growth markets.
As of June 30, AEW had some €70.2 billion ($82.2 billion) of assets under management, with €33.6 billion ($39.4 billion) of real es
