Palmira Capital Partners has agreed a joint venture with US investment manager Apollo Global Management, to help invest more than €1bn in modern logistics facilities across Europe.

Palmira said the joint venture, which has been established with the Apollo European Principal Finance III Fund (EPF III), has already invested €100m in four transactions in Germany. Earlier this year, IPE Real Assets reported that Apollo was seeking to raise €2.7bn for the fund.

Over the past three months, it has bought assets in Bergkamen, Berlin and Osnabrück. Additional transactions in five countries with an aggregate value of more than €400m are currently in due diligence, Palmira said.

Alexander Hoff, founder and managing partner of Palmira Capital Partners, said: “The logistics market across Europe remains very strong with a constantly growing demand from occupiers. 

“We have long been looking for an experienced partner like Apollo to execute a pan-European logistics investment strategy.”

real estate investment companyPalmira, is a real estate investment company specialising in industrial property that provides, investment management, asset management and property management services.