DWS today announced the acquisition of a well-located logistics property in Jönköping, Sweden for approximately EUR 141.6 million on behalf of one of its German open-ended retail real estate funds. The seller of the property is Savills Investment Management's Nordic Logistics Club Deal fund.
This follows the recent forward funding purchase of a EUR 146 million state of the art logistics facility development in Eskilstuna, Sweden, for Coop Logistik AB on behalf of DWS’ open-ended institutional real estate fund Europe II, earlier in December.
The logistics complex in Jönköping is leased to El-Giganten Logistik AB, one of the largest electronics companies in Northern Europe, on a long-term basis. Comprising 112,000 square meters, it is characterized by its fully automated sorting and storage facilities enabling efficient and high capacity operations serving Norway, Sweden, Denmark and Finland. The long-term sole use and successive expansion of the building demonstrates the strategic importance of the location for the tenant given its location within the Nordic Trade Triangle between Malmö, Gothenburg and Stockholm.
“This acquisition further expands our presence in Sweden and in the logistics sector. We will continue to focus on assets with strong tenant profiles in well-established locations with access to large consumer markets across Europe,” said Ronen Ribak, Head of Real Estate Transactions, Europe at DWS.
“Long-term, fully let prime logistics in established locations combined with positive sector fundamentals contribute to make this an attractive investment for our fund”, added Matthias Naumann, CIO Europe Real Estate at DWS.
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DWS - Real Estate
DWS’s real estate investment business has been investing in real estate assets for 50 years. As part of the Alternatives platform, the real estate business has more than 450 employees around the world and EUR 65 billion in assets under management as of 30 September 2020. Providing a diverse range of strategies and solutions across the risk/return and geographic spectrums, we offer core and value-added real estate, real estate securities, real estate debt and opportunistic real estate. The real estate investment business employs a disciplined investment approach and aims to deliver attractive long-term risk adjusted returns, preservation of capital and diversification to its investors, which include governments, corporations, insurance companies, endowments, retirement plans, and private clients worldwide.
About DWS Group
DWS Group (DWS) is one of the world's leading asset managers with EUR 759bn of assets under management (as of 30 September 2020). Building on more than 60 years of experience, it has a reputation for excellence in Germany, Europe, the Americas and Asia. DWS is recognized by clients globally as a trusted source for integrated investment solutions, stability and innovation across a full spectrum of investment disciplines.
We offer individuals and institutions access to our strong investment capabilities across all major asset classes and solutions aligned to growth trends. Our diverse expertise in Active, Passive and Alternatives asset management – as well as our deep environmental, social and governance focus – complement each other when creating targeted solutions for our clients. Our expertise and on-the-ground-knowledge of our economists, research analysts and investment professionals are brought together in one consistent global CIO View, which guides our investment approach strategically.
DWS wants to innovate and shape the future of investing: with approximately 3,500 employees in offices all over the world, we are local while being one global team. We are investors – entrusted to build the best foundation for our clients’ future.