Allianz Real Estate has acquired a 50 percent share of a portfolio with core logistics assets in China. The assets are owned by a fund managed by Gaw Capital, which developed the properties jointly with Vailog China in 2016 and 2017.
The portfolio contains five assets in Shanghai, Jiaxing, Foshan, Wuhan and Shenyang totaling about 375,000 square meters (2 million square feet) of lettable space.
Vailog and Gaw will retain 50 percent of shares and continue to manage the assets.
“This transaction is in line with our strategy of aligning our investments to mega-trends in the Asia-Pacific region,” said Rushabh Desai, CEO for Asia Pacific at Allianz Real Estate, in the statement. “Demand for logistics in China is underpinned by growth in e-commerce, middle-class accession and infrastructure build-out.”
Separately, Allianz has established a partnership with ESR Group in order to invest in the Indian logistics market.
ESR and Allianz are each provi
