Axa IM acquires development site via industrial platform Baytree

Baytree Logistics Properties – the logistics and industrial development platform of Axa Investment Managers Real Assets (Axa IM Real Assets) – has acquired a development site in Germany.

Located in the state of Saxony-Anhalt, the site has a total area of 152,000 sqm and can accommodate up to 75,000 sqm of logistics manufacturing space across multiple buildings.

The buildings will be available on either a leasehold or owner-occupation basis, depending on the end user’s requirements and preferences.

Secured on behalf of Axa IM Real Assets clients, the site is the latest addition to Baytree’s German development portfolio, following acquisitions in nearby Hanover, Leipzig, and also Magdeburg.

According to the firm, favourable supply and demand dynamics continue to support investment in the German logistics sector.

Sascha Petersmann, Baytree’s head of Germany, said: “This second addition to our Saxony-Anhalt development pipeline demonstrates our conviction in the region as a strategic location for logistics and light industrial activities, which is further enhanced by the state’s business-friendly approach and availability of labour.”

©2019 funds europe

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