AEW acquires logistics asset in Hanover for EUROCORE

AEW has completed the off-market acquisition of a newly built, fully let logistics asset in Hanover-Sehnde, Germany, for its open-ended Pan-European core fund EUROCORE.

The asset, comprising two logistics buildings with five modern units and a total leasable area of 50,200 square meters (538,196 feet), is fully let to Kühne + Nagel, a global logistics service provider, and Picnic, an online supermarket in Europe.

The asset has strong sustainability credentials and is targeting the DGNB GOLD environmental label. It also features PV installations, air-source heat pumps, echarging facilities, a partially green façade, and LED light systems.

Situated near the A2 and A7 motorways, the asset offers access to Germany’s east-west and north-south corridors, as well as the local public transport network. Located less than 20 minutes east of Hanover city center, the asset serves 600,000 consumers.

“Since its launch, EUROCORE has so far invested €525 million