Clarion Partners Europe has raised a further €882m to acquire and develop logistics assets in Europe.
The real estate investment fund manager said fundraising was backed by investors including investors in North America, Europe, and Asia.
Clarion Partners Europe, which specialises in logistics and industrial assets, said the fresh capital creates additional acquisition capacity of up to €1.8bn.
Alistair Calvert, CEO of Clarion Partners Europe, said the European logistics market is undergoing a rapid repricing fueled by rising interest rates.
“However, underlying occupier demand, the continued expansion of e-commerce and resulting rental growth all remain strong. We are well-positioned to benefit from these dynamics by scaling in an investment market that has less competition but strong tenant demand.
“We believe the investment case for logistics, given the recent repricing, is compelling on an absolute and relative basis and expect the changes in the structure of retail sales and in the supply chain will continue to further benefit the sector.”
“The Clarion Partners Europe team has been able to consistently identify the sector’s evolving trends and pivot its strategy accordingly. Over more than 16 years, we have invested broadly across Europe, leveraging local origination and asset management expertise. We believe we are creating a sustainable platform that meets the demand of today’s occupier.”
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