Palmira Capital teams with Apollo fund to invest €1b in European logistics

Palmira Capital Partners has partnered with Apollo European Principal Finance III Fund to invest more than €1 billion ($1.2 billion) in modern logistics facilities across Europe.

The joint venture has already invested €100 million ($118 million) in four transactions in Germany over the last three months, including assets in Bergkamen, Berlin (two) and Osnabrück.

Additional transactions in five countries with an aggregate value of more than €400 million ($470 million) are currently in due diligence.

The investment focus of the joint venture is core and future core assets in Germany, Benelux, Central and Eastern Europe, France and Iberia.

A huge increase in urban logistics property space is required in key centers across Europe in the next few years to meet the exponential growth of e-commerce and the resultant need for last-mile delivery in cities, according to