Real Estate Investor AXA IM Picks Up European Logistics Portfolio
3rd January 2020
AXA IM – Real Assets, which describes itself as a global leader in real asset investments and the leading real estate portfolio and asset manager in Europe, says that it has completed the acquisition of a c. 275,000 sqm pan-European core logistics portfolio from AEW.
The portfolio, which comprises six assets with an average age of 10 years, is fully let with what the company says is an attractive average lease length in excess of seven years, underpinned by strong covenants. Two are located in Italy , three in France and one in the Netherlands in prime logistics sub-markets including Milan, Paris, Lyon and Eindhoven, along major national and international transportation hubs that are mission critical for their tenants.
The AXA Logistics Europe Fund managed by AXA IM – Real Assets, says it has a portfolio of 73 assets valued at c. €1.4 billion and spread across six countries.