AEW buys French logistics portfolio for €200m
AEW, on behalf of its Logistis fund, has acquired a €200 million ($218 million) French logistics portfolio known as Corridor from a fund managed by GLL Real Estate Partners.
The acquisition brings the total amount invested on behalf of Logistis in the past year to €1 billion ($1.1 billion) across 16 assets and increases the total asset value of the Logistis platform to approximately €2 billion ($2.2 billion).
The portfolio comprises eight high-quality, multi-tenant logistics assets totaling 3 million square feet, situated in prime logistics locations around Le Havre, Lille, Lyon and Paris.
Following the acquisition of the Corridor portfolio, Logistis has allocated 80 percent of its investment capacity and has reached a 99 percent occupancy rate in its existing investment portfolio.
The growth strategy for the Logistis fund remains focused on building a portfolio of class A logistics parks in prominent locations across the main