KKR and Palm Logistics, a dedicated affiliate of pan-European real estate private equity and special situations firm Palm Capital, have agreed to forward fund the development of two prime, class A logistics warehouses at Greenogue Business Park in Dublin. The properties will be developed by Jordanstown Properties.
The transaction is thought to be the largest logistics forward funding in Dublin post the financial crisis with a gross development value of approximately €85 million ($94 million).
The 42,000-square-meter (452,000-square foot) development, which is situated on one of Ireland’s biggest logistics campuses at 350 acres, is being undertaken speculatively with completion due in 2021. Located just off the M7, the development is just 20 minutes’ drive from Dublin Air
