AEW, one the world’s leading real estate investment and asset managers, announces the acquisition of Hamburg North Park and Eco-City Hub in Colombes, Paris, on behalf of its urban logistics and light industrial fund, ULLIS (the “Fund”). These acquisitions, totaling €75 million, bring the total amount of capital allocated on behalf of the Fund to €200 million across France and Germany, 10 months after its launch in March 2021.
ULLIS has acquired Hamburg North Park, comprising an existing fully-let 12,300 sqm logistics asset and 19,300sqm of development land which is located in Nordestedt, north of Hamburg. The Fund plans to develop a prime multi-let, light industrial and city distribution park on the land with one of its historical development partners.
Eco-City Hub consists of an 8,600 sqm brand-new multi-storey city distribution asset located in Colombes, within Paris’ highly supply-constrained first ring market which offers direct access to the A86.
Pic : Eco-City Hub in Colombes, Paris
Source : Company