Europa Capital and Cromwell launch €150m German logistics JV

Europa Capital, a Pan-European real estate investment manager, on behalf of its latest value-add fund, and Cromwell Property Group have launched a German logistics joint venture with a target gross asset value of €150 million ($176 million).

“We have seen a significant increase in the demand for light industrial and last-mile logistics assets from institutional investors,” said Jason Oram, partner, fund manager, at Europa Capital. “Real estate allocations have started to shift away from sectors, which have been adversely affected by ongoing structural changes in the industry and the COVID-19 pandemic, toward the logistics space, where we are able to leverage our track record. The sector has proven its resilience during the pandemic, evidenced by the high levels of rent collection we have recorded across our wider portfolio, and we firmly believe that rents will grow for well-located assets within this sector over the course of our hold period in this venture.”