European logistics real estate fund manager Verdion has raised an additional €100m for its latest value-add fund.
The firm said this had taken the amount raised for Verdion European Logistics Fund (VELF) 2 to more than €300m.
As reported in October last year, CBRE Investment Management’s indirect private real estate arm made a €150m commitment to VELF 2 following an initial closing of €75m exclusively sourced by Verdion from investors in the inaugural 2020 vintage of its flagship VELF fund series.
VELF 2’s strategy involves acquiring and improving underutilised logistics properties in strategic locations across Northern Europe. The fund’s initial investment is a €33.5m distribution centre in Horsens in Denmark, which is pre-leased to Danish women’s clothing brand Zizzi.
Verdion said capital raising was ongoing and that a pipeline of further acquisitions was in place, with a focus on Germany, in addition to Sweden, Denmark and the Netherlands.
Simon Walter, executive director of investment management at Verdion, said: “This commitment is a further sign of confidence in our approach, amid a challenging capital raising environment. Interest in our value-add strategy is strong, and our focus on creating and repositioning into market-leading assets with technical innovation and excellent ESG credentials at their core, remains attractive to investors from the US, Northern Europe and Asia-Pacific.”
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