Allianz Real Estate takes a stake in logistics assets owned by GAW-Capital
Nov 23, 2018 (China Knowledge) - German insurer Allianz’s real estate investment arm Allianz Real Estate has taken a 50% stake in a portfolio of modern logistics assets in China which are owned by a GAW-Capital managed fund. The logistics assets were developed by major Chinese logistics developer Vialog.
Vialog and GAW-Capital will continue holding on to the remaining 50% and will be managing them.
No details regarding the deal have been disclosed by either party.
The portfolio includes 5 projects in the areas of Shanghai, Jiaxing, Foshan, Wuhan and Shenyang with a total leasable area of 375,000 square meters, which is approximately the size of 52 football fields. The assets are currently occupied by tenants such as Vipshop, Carrefour, Miniso and Alog.
Allianz Real Estate has been looking to build up its Asia-Pacific logistics portfolio and is currently hunting for logistics deals in China. The company sees a gap between current e-commerce and logistics trends in the region and hopes to capitalize on it. E-commerce in Asia-Pacific has seen exponential growth whereas the region’s logistics market remains underpenetrated.
The company, currently, has exposure to the logistics sector in Australia, China, Japan and Korea. The company’s investment strategy revolves around aligning itself to mega-trends in the region.
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