Palmira Capital Partners has launched its open-end Palmira European Core Logistics Fund. The pan-European vehicle plans to invest €650 million in forward-looking logistics assets in core locations on the major transport axes in continental Europe. It will also invest in properties for urban last-mile deliveries in large conurbations.

In an exclusive interview with IREI, Alexander Hoff, managing partner at Palmira, said that the fund was not open-ended “in a classical way”. “Our funds tend to have up to 10 institutional investors, and we stop fundraising at pre-agreed limits to ensure a homogenous club of investors,” he explained.

Palmira already has more than €100 million in equity commitments and is currently considering acquiring three properties in Germany, the Netherlands and Poland.

“The interest in logistics real estate has been strong and constantly increasing over the last six to seven years in Europe,” said Hoff. “COVID-19 gave it an a