European logistics real estate specialist Verdion has raised an initial €75m for its second value-add fund.
The manager said the capital for Verdion European Logistics Fund (VELF) 2 was sourced exclusively from investors in the first vehicle of the VELF series.
VELF2 is seeking to raise €400m for the value-add strategy that will reposition existing assets into “future-proofed core properties” in established Northern European logistics locations, the manager said.
VELF2 expects to have a total investment capacity of over €800m when combined with leverage.
Verdion’s first fund VELF1 raised €158m at its final close in 2020. The fund, which is fully invested, together with debt, has deployed €310m to acquire eleven logistics assets across Germany, the Netherlands, Denmark and the Czech Republic.
Simon Walter, executive director of investment management at Verdion, said: “With the continued supply-demand imbalance in key European logistics markets, we are seeing strong interest for this strategy from investors.
“VELF2 will build on the success of our first fund, in leveraging the expertise of Verdion’s vertically-integrated, in-market teams to identify a range of existing properties that we can reposition into high-quality logistics assets with excellent ESG credentials.”
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