AEW Europe, one of the world’s largest real estate investment and asset managers[1], announces that it has agreed the acquisition of a 16,750 sqm land plot in Taufkirchen, on the outskirts of Munich, for the development of a c.11,000 sqm Grade A last-mile urban industrial facility.
AEW Europe will partner with developer Trammell Crow Company (“TCC”), which has co-invested in the project as a joint venture partner, to deliver the facility. The scheme will offer flexible space with the potential to accommodate up to seven units across two buildings. The project will feature PV panel installation, a green roof, and is targeting a minimum DGNB Gold certification – Germany’s leading building certification system[2]. The buildings are expected to be delivered and ready for tenants towards the end of 2026.
Munich, Germany’s third largest city, boasts approximately six million residents in its metropolitan area and is the second largest contributor to the country’s GDP[3]. The asset will be strategically located in a prime location for last-mile urban industrial, with direct access to the M995 motorway and the city centre via the city’s ring road.
Niklas Räther, Head of Investments Germany at AEW Europe, commented: “This acquisition presents a strategic opportunity to enter the highly constrained industrial space market in Munich, where demand continues to be robust. The land acquired is located in a target market, providing access to this densely populated region in Germany. The asset is situated within a 30-minute reach of about 1.5 million residents, making it ideally suited for last mile distribution activities. We look forward to working in partnership with TCC, with whom we have successfully delivered high-quality projects across Germany and Europe.”
Photo credit: ©TCC.
[1] Source: 2025 IRE.IQ Real Estate Managers Guide”. The Guide, published annually by Institutional Real Estate, Inc., ranks real estate managers based on the gross value of real estate AUM ($m) as of December 31, 2024.
[2]More information are available at the following link: https://www.dgnb.de/en/certification/important-facts-about-dgnb-certification/about-the-dgnb-system. Additional information on ESG practices is available upon request.
[3]Sources: https://risi.muenchen.de/risi/dokument/v/9129777; https://www.metropolregion-muenchen.eu/?cookie-state-change=1768239680978
About AEW
AEW is one of the world's largest real estate asset managers, with €73.4bn of assets under management as at 30 September 2025[1]. AEW has over 830 employees, with its main offices located in Boston, London, Paris and Singapore and offers a wide range of real estate investment products including comingled funds, separate accounts and securities mandates across the full spectrum of investment strategies. AEW represents the real estate asset management platform of Natixis Investment Managers, one of the largest asset managers in the world.
As at 30 September 2025, AEW managed €35.6bn of real estate assets in Europe on behalf of a number of funds and separate accounts. AEW has over 515 employees based in 11 offices across Europe and has a long track record of successfully implementing Core, Value-Add and Opportunistic investment strategies on behalf of its clients. In the last five years, AEW has invested and divested a total volume of almost €14bn of real estate across European markets.