European real estate fund manager Patron Capital has extended its relationship with developer Inbright with a new venture to invest in sustainable light industrial assets in Germany.
Patron Capital is providing the capital to enable Inbright to acquire properties for the newly launched platform that seeks to own a portfolio of around €250m over the next three years.
The platform intends to acquire assets primarily in Germany’s top seven regions of Berlin, Hamburg, Munich, Stuttgart, Cologne, Frankfurt and Düsseldorf, as well as additional areas with “strong economic prospects such as Karlsruhe, Ulm, Regensburg and Nuremberg”.
The venture will focus on the renovation of existing buildings and will look to acquire assets valued between €5m and €30m.
The latest partnership extends the relationship between pan-European institutional investor Patron Capital and Inbright, which began two years ago when the companies partnered on the transformation of an industrial site in Ludwigsburg in Germany.
Christoph Ignaczak, a senior partner and investment director at Patron Capital, said: “Germany is one of the world’s most important locations for light industrial. With long-term economic stability and strong demand for modern, high-quality buildings, it offers highly attractive investment prospects.
“As tenant priorities and regulations change, many companies want or need to improve the sustainability of their buildings but don’t have the resources or expertise. This platform will aim to capitalise on this opportunity for private capital to fund sustainable renovation projects.”
Torsten Schmidt, managing director of Inbright Development, said since Inbright was founded in 2020, the company has undertaken light industrial and logistics projects worth around €440m in total.
Schmidt added: “Having worked in close partnership with Patron Capital over the last two years, we’re pleased to be broadening this relationship, with the aim of building on our success and significantly growing our footprint.”
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