Clifford Chance has advised AEW, a leading global real estate investment and asset manager, on the launch of a new urban light industrial strategy platform (ULLIS) with 475 million euros of start-up equity.
The platform is structured as a scalable partnership, targeting the development of an initial portfolio of circa 800 million euros. The investors that have committed to the platform are long-term partners of AEW in the logistics sector and include PGGM, Allianz Real Estate and Crédit Agricole Assurances.
ULLIS aims to build a core portfolio focused on urban light industrial assets in major metropolitan areas of France, Germany and the Netherlands. The majority of equity is expected to be deployed across brownfield build-to-core developments, which will be supported by the acquisition of some income producing assets.
Clifford Chance advised AEW with a team comprising Alexandre Lagarrigue (partner) and Alexios Theologitis (associate), as well as Katrin Schallenberg (partner) and Orianne Trouilleau (associate) in Paris, Emmanuel-Frédéric Henrion (partner), Geoffrey Scardoni (partner) and Anne-Lise Vandevoir (associate) in Luxembourg, Jan Grabbe (partner) and Ruven Erchinger (senior associate) in Frankfurt, Dimitri Slobodenjuk (counsel) and Johannes Lüer (senior associate) in Düsseldorf, Michiel Sunderman (partner) and Pascal Borsjé (senior advisor) in Amsterdam.
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