AEW has acquired a 97,000-square-meter (1 million-square-foot) urban warehouse and last-mile logistics portfolio, comprising five assets across France, on behalf of a separate account mandate for a French institutional investor. The strategy is to invest in high-quality urban logistics assets, adjacent to major metropolitan centers. This acquisition brings the total capital deployed for the mandate to €195 million ($227 million) since the end of 2023. The investor’s strategy is currently focused on France, with an ambition to expand into other Western and Southern European markets.
The portfolio acquired in this latest transaction comprises three class A urban warehouses and two last mile logistics assets used for parcel delivery services located in Bordeaux, Lille, Lyon and Valence, which are fully let to strong occupiers, with a weighted average lease balance of 4.6 years. Constructed to high specification, three assets are certified BREEAM ‘Very Good’ to ‘Excelle
