Timely sale for AEW Europe logistics portfolio
Curzon Capital Partners II (CCP II), the core-plus fund that is advised by AEW Europe, has agreed to sell a seven-asset, 229,000-square-metre Dutch and German logistics portfolio to Canada-REIT Granite Real Estate Investment Trust for €129 million. The largest asset in the portfolio was recently the subject of a new 12-year lease for electronics firm Ricoh.
Nick Judge at AEW Europe comments: “We identified in early 2013 that investor demand was increasing for European logistics and this allowed us to undertake off-market discussions with a select number of specialist investors.”
Rob Wilkinson, CIO of AEW Europe, adds: “This is a key achievement for the fund that will result in a substantial return of capital to investors.”