Newport Logistics Fund announced the launch of Newport Logistics Fund III, a pan-European fund that will finance the development, leasing and sale of modern, sustainable logistics properties.
The investment company, which is part of the Panattoni group, is aiming to raise €300 million ($331 million) for its third fund to develop 10 to 12 facilities across Europe. It has two projects already secured: the first, a speculative development north of London, and the second, a build-to-suit development in Malaga, Spain. Further investments are in the process of analysis and selection in the rest of Europe.
The launch of Newport Logistics Fund III follows the successful investment of first two Newport funds. Newport Logistics Fund I invested in three modern logistics facilities in London, Amsterdam and Lodz with a gross development value of €100 million ($110 million). The fund is currently completing the construction of all the facilities and is in the process of selling
