Property investment manager AEW has raised an additional €500 million of equity for its specialist pan-European logistics strategy, Logistis, bringing the fund’s total net equity to over €2.7 billion.
The new equity has been raised entirely from existing investors and will enable further expansion in Continental Europe. Logistis will now grow to around €5.4 billion of assets under management. The expansion will take place through build-to-suit projects, speculative development and acquisition of standing assets.
Since Logistis was launched in 1999 it has accumulated a 3.3 million sq m portfolio comprising 110 logistics assets on 49 sites across Europe. The portfolio’s total value of is currently approximately €3.4 billion and there is a development pipeline of around €1 billion.
AEW’s strategy for Logistis is to diversify and intensify its footprint across Europe’s main logistics hubs. Assets range from large multi-modal logistics parks to urban logistics assets.
Focus is on acquisition of sustainable real estate
Logistis focuses on acquiring and developing sustainable assets and letting space on green leases.
“Our build-to-core strategy is underpinned by the structural tailwinds which are supporting the growth of the logistics market and have been accelerated by the pandemic,” AEW Europe CEO Rob Wilkinson commented. “More of us are shopping online than ever before and businesses are reconfiguring supply chains in response to changing consumer habits.”
As at 31 March 2021, AEW managed €35.7bn of real estate assets in Europe on behalf of a number of funds and separate accounts.