AXA Real Estate Investment Management has acquired a logistics complex in Germany from the development arm of construction company Hochtief. The investment volume was not disclosed.

The logistics centre at Niedersachsenpark near Rieste/Neuenkirchen-Vörden was completed by Hochtief in 2009. The complex comprises a 42,000 m2 hall and a separate rental area of 2,000 m2 for offices and social zones.

The asset is let to a French carmaker to use it as its North Europe spare logistics centre. AXA REIM carried out the transaction on behalf of its European logistics investment vehicle. The sale was brokered by BNP Paribas Real Estate.