Partners Group has agreed to invest in LogCap, a last-mile logistics platform in Oslo, on behalf of its clients.
The seed portfolio comprises of 19 assets with a combined gross asset value of €442 million ($490 million). Following the transaction, Partners Group will be the largest shareholder in the LogCap portfolio with a 50 percent stake.
LogCap's portfolio is strategically located in the Drammen-Langhus-Lillestrøm logistics triangle, which is considered the most attractive area for last mile logistics assets in Oslo. Around 2 million people can be reached within a one-hour drive of this area, representing 37 percent of Norway's population. The portfolio has more than 100 tenants from a range of industries, which provides strong diversified cash flows and insight into demand dynamics. It is 96 percent occupied and the average remaining contract period is 4.9 years with 100 percent annual inflation adjustment leases. A limited supply of logistics space combined wi
