Greykite’s European real estate fund has entered into a partnership with Martley Capital Group, marking the launch of the UK division of Lagerhome, Greykite’s multi-let industrial platform.
Simultaneously, the partnership between the Greykite European Real Estate Fund I fund and Martley has acquired an industrial estate in Milton Keynes in the UK, one of three target markets for the platform, alongside Sweden and Germany.
Financial details of the transaction were not disclosed.
In line with the fund’s wider strategy, the initial acquisition offers asset management upside that will enable the fund to capture significant rental reversion. Lagerhome will continue to pursue assets in liquid, supply-constrained markets underpinned by strong macroeconomic fundamentals and demographic growth, supporting sustained tenant demand and long-term rental growth.
Greykite launched Lagerhome last month with the purchase of a 94,000sqm Swedish portfolio. The fund has a pipeline across its key markets and the platform is targeting €1bn of investment in the next 18-24 months, the newly launched firm said.
Michael Abel, founder and CEO of Greykite, said: “This partnership emphasises our commitment to working with best-in-class, local operators to deliver scalable industrial platforms. Martley’s experience in the industrial sector makes them an ideal partner to support the next phase of Lagerhome’s growth.
“We have strong conviction in the UK industrial sector, where structural undersupply, resilient tenant demand, and supportive long-term fundamentals, coupled with ongoing market dislocation, continues to present compelling investment opportunities.”
Martley Capital’s Croft said: “We are very excited to be working with Greykte to help build the Lagerhome platform across the UK and other jurisdictions in Western Europe.
“The Greykite team share our conviction in the sector, and we believe that this is a market leading partnership that will create a leading industrial investor over the next 18-24 months.”
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