Investment firms Quilvest Capital Partners and Dromeus Capital have partnered to invest over €100m to buy and develop industrial and logistics properties across Greece.

Quilvest will act as the majority shareholder and financial partner for Herod, the venture platform, which will have a “strong emphasis on sustainable assets” and is currently in the process of advancing its inaugural project – a 42,000sqm warehouse situated in Elefsina, West Attica.

The partners also plan to expand the site by an additional 30,000sqm in the next two years.

Michael Kandarakis, partner and co-head of real estate at Quilvest, said: “We are delighted to introduce Herod, Greece’s first sustainability-focused logistics platform of significant scale.

“It is a natural extension of a 10-year record of investing in the industrial and logistics sector in Europe and the US. Our goal is to support Greece’s growing economic and trading activity by developing storage space that adheres to the highest efficiency and ESG standards.”

Achilles Risvas, CEO and founder of Dromeus Capital, said the “surging demand for modern, grade-A logistics warehouses coupled with the lack of existing supply underpins our investment thesis”.

He said: “With Quilvest’s extensive expertise and resources, we have a powerful ally in our mission to redefine the Greek logistics landscape.”

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