AEW and Allianz in €290m UK logistics venture

AEW has partnered with Allianz to launch a €290m (£248m) logistics venture to fund speculative developments in the UK. AEW will manage the venture, an Allianz-owned separate account vehicle, and will focus on units of 200,000 sq ft or larger in prime locations in the UK. Allianz is committing €290m. Allianz Real Estate, the real estate investment and asset manager of Allianz Group, has increased its exposure to the logistics sector over the past few years. Logistics accounted for €5.6bn of the firm’s total assets under management as at 31 December 2018. One of the first investors in logistics, AEW