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AEW announces the acquisition of a modern last mile distribution centre located in Erfurt, central Germany. The asset has been acquired on behalf of a German separate account from GIEAG Immobilien AG, the Munich based developer.
The recently completed asset, which comprises c. 24,200 sqm of Grade A logistics space, is fully let to an American online retailer who signed a long term lease agreement. The asset received a DGNB Gold environmental rating and benefits from a strategic location granting easy access to the nearby motorways and Erfurt’s city centre.
The strategy for the mandate focuses on building a core logistics portfolio in key logistics hubs across Germany. This is the third acquisition for the mandate over the past nine months and is in line with its strategy to deliver a sustainable dividend yield.
Source : Company