Axa IM Real Assets has bought European logistics real estate for 1 billion euros. The portfolio includes real estate in the Netherlands, including H&M's distribution centre in Tiel.
The buildings come from Gramercy Property Europe's portfolio. It involves 39 mainly logistics assets in the Netherlands, Germany and France. 86.5 per cent of the total acquisition consists of logistics properties, half of which are over 50,000 square metres in size. The spaces are leased to 27 tenants with an average contract length of eight years. Also included in the purchase are Hulshoof Group's distribution centre in Amsterdam, Pacombi Group's distribution centres in Oud-Beijerland and Kuehne + Nagel's logistics centre in Utrecht.
According to Axa IMRA, this is the right time for such an investment. With a shortage of prime logistics properties in Europe, the rise of e-commerce and changes in the distribution chain, demand for distribution centres is growing.
Editorial LogistiekProfs
