King Street, Bowery expand Pan-European last-mile logistics real estate platform

King Street Capital Management and Bowery, an investment and asset management firm specializing in European logistics real estate, have expanded their portfolio of last-mile urban logistics assets through Voyage, their joint venture. The recently launched platform, which focuses on liquid markets in France, Germany and the Netherlands, includes 10 assets totaling 1.3 million square feet across five markets.

“We are pleased to partner with Bowery and launch this pan-European last-mile platform to address the supply-demand imbalance in the sector and expand in core European markets,” said Paul Brennan, managing director, co-head of real estate at King Street. “Following the market dislocation last year, we are looking to capitalize on the price correction in the space, despite strong secular tailwinds and embedded downside protection in aggregating last-mile assets."

Jean-Marie Caillon, founder of Bowyer, added,  “Beyond e-commerce's continued growth calling for