Axa Real Estate adds logistics unit as online retailing expands expansion

Kasmira Jefford
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Axa Real Estate Investments added logistics and distribution centre platform titled Baytree
AXA REAL Estate Investment Managers yesterday launched a €100m (£70m) European logistics and industrial platform as it seeks to tap into the rise of online retailing.

The French firm said Baytree Logistics Properties will operate alongside its existing €1.8bn (£1.3bn) European logistics platform targeting speculative logistics buildings in prime locations across Europe. The new platform will be led by a team former Gazeley directors, the warehousing giant bought by Brookfield in 2013, with John Duggan as chairman.

The launch of Baytree, which already has a pipeline of £70m projects, comes less than a month after Axa bolstered its €8bn pipe­line of developments by buying the stalled Pinnacle site at 22 Bishops­gate with developer Lipton Rogers.

Investor appetite for logistics assets is soaring, with around €7bn of new equity estimated to be targeting the sector, Duggan said in Cannes yesterday at the real estate industry’s MIPIM event.