Patrizia launches pan-European logistics real estate fund
Patrizia Immobilien AG has launched its first pan-European logistics real estate fund with a €500 million ($560 million) target. Reportedly, the fund already has received commitments from an array of institutional investors.
The Logistik-Invest Europa I acquired its first properties in Belgium, France, Germany and the Netherlands, totaling 2.7 million square feet across 13 properties with 11 strong performing logistics customers at logistics hubs. The properties with a purchase value of approximately €200 million ($220 million) have been acquired over the past few months.
Additional investments are scheduled in those assets that mainly cover the last miles in metropolitan regions as well as well-located conventional distribution properties to serve the interest of the fund investors.
Assets include a completely refurbished, modern distribution center with 750,000 square feet at the well-established “Senart” business re