Logistics Capital Partners and Spanish retail specialist Eurofund Capital Partners have launched a logistics joint venture targeting Spain and Portugal.

The Eurofund LCP partnership will develop new logistics and warehouse facilities across the two countries.

Logistics Capital Partners is an investment platform set up in 2015 by former CBRE and Goodman professionals.

James Markby, managing director of Logistics Capital Partners, said: “In the new ecommerce retail environment, it makes a lot of sense, and the specific skill sets of the two groups complement each other extremely well.”

He pointed to his company’s “experience in delivering logistics real estate in a competitive environment for leading global occupiers, combined with Eurofund’s unrivalled retail sector knowledge and relationships across Spain and Portugal”.

Ian Sandford, president of Eurofund, which has previously worked in partnership with Intu Properties, said the joint venture is a “logical step” as it looks to extend services and operations in Spain.

The new entity, the firms said, has the capability and understanding to deliver the requirements of both retail and logistics occupiers, with blurring of the traditional distinction between the two sectors.

Sandford said Spain’s retail sector is becoming “increasingly competitive”.