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Allianz acquires prime last-mile logistics facility in Vienna

Allianz Real Estate, on behalf of several Allianz group companies, has acquired a special purpose vehicle (SPV) owning a newly built, last-mile logistics facility in southern Vienna for EUR72 million. 

The SPV has been sold to Allianz Real Estate by Exeter Property Group.

The prime facility sits c10km from Vienna’s centre, located in the largest industrial and commercial area serving the Viennese market; it is also just 250 meters from the nearest Metro line. It is single tenanted by Amazon and is one of the company’s delivery stations in the region. While the core building covers 9,000 sq m, the total area being acquired including land covers 48,000 sq m, with much of it being used to host the delivery vehicles needed to meet demand.

Central to Allianz Real Estate’s management of the asset will be to continuously improve the sustainability of its operation, with the first step the installation of photovoltaic panels as a means to increasing the amount of energy derived from renewable sources. This will align the asset to the firm’s commitment to reducing carbon emissions by 25 per cent by 2025 and becoming net-zero by 2050.

The logistics sector continues to be a central focus for Allianz Real Estate across all its markets as demand for high-quality facilities remains strong and long-term yields remain attractive. The sector has been very resilient during the pandemic, with well-located prime assets, including last-mile facilities, at the forefront of the asset class and stakeholder interest.

Source: propertyfundsworld.com on 4 March (https://www.propertyfundsworld.com/2021/03/04/296722/allianz-acquires-prime-last-mile-logistics-facility-vienna)