AEW acquires c. 50,200 sqm logistics asset in Hanover

AEW, one of the world’s leading real estate investment and asset managers,¹ announces that it has completed the off-market acquisition of a newly built and fully let logistics asset in Hanover-Sehnde, in Germany.

The asset, comprising two logistics buildings with five modern units and a total leasable area of c. 50,200 sqm, is fully let to Kühne + Nagel, one of the world’s leading logistics service providers, and Picnic, one of the main online supermarkets in Europe.

The asset has strong sustainability credentials and is targeting the DGNB ‘GOLD’ environmental label. It also features PV installations, air source heat pumps, e-charging facilities, a partially green façade, and LED light systems.

Situated near the A2 and A7 motorways, the asset is in a strong location offering access to Germany’s east-west and north-south corridors, as well as the local public transport network. Located less than 20 minutes east of Hanover city centre, the asset serves a sizeable market of 600,000 consumers.

Jeffrey King, Fund Manager at AEW, commented: “Since its launch, our pan-european core strategy has so far invested €525m across a mix of logistics, residential and life science assets in seven countries. This is our second acquisition in the German logistics space where we continue see value for well-located assets which meet the long-term requirements of occupiers.”

Niklas Räther, Executive Director Investment Germany at AEW, added: “Hanover-Sehnde is a high-quality, sustainable logistics asset generating long term income and constitutes an attractive core investment opportunity in one of Germany’s leading markets. The fact we were able to source this acquisition off market is also testament to our strong network on the ground.”