AXA Investment Managers – Real Assets hold €240m final close for logistics fund

AXA Investment Managers – Real Assets, one of the largest real estate investment managers in Europe, has announced the final close of Logistics Development Club, a fund seeking to invest in logistics development projects in key locations across Europe.

With €240 million ($279 million) of equity commitments raised from four international institutional investors, Logistics Development Club aims to develop 1 million square meters of grade A logistics space, providing occupiers with efficient, flexible and sustainable buildings.

The Logistics Development Club intends to capitalize on the strong demand for modern grade-A logistics buildings, driven by ongoing consolidation in the sector, structural changes in consumer behavior and e-commerce’s rapid growth.

The fund will directly benefit from the development expertise of Baytree Logistics Properties, a pan-European logistics and industrial platform set up in partnership with AXA IM – Real Assets in 2015, whi