BNP Paribas Real Estate Investment Management has announced the first closing of the new CORE Eurozone Logistics Fund (ELF), which will target investment opportunities mainly in Germany, the Benelux and France.
'Core European investments continue to present attractive investment opportunities,' commented Henri Romnicianu, head of capital raising for BNP Paribas REIM's pan-European funds. 'Our sector-dedicated strategy perfectly meets the requirements of pension funds and insurance companies looking for income and diversification.'
Assets located in key logistics hubs within Germany, Benelux and France will comprise the largest part of the portfolio allocation, Romnicianu added.
In its first transaction, closed this summer, ELF acquired a brand-new logistics warehouse in the Netherlands, fully let to global third-party logistics provider DSV. Strategically placed in ‘s-Heerenberg, near the German border, the property is at short distance from the Ruhr region, the fifth largest metropolitan region in Europe.
A diversified portfolio of selected core logistics properties in the Eurozone, gives European institutional investors the possibility to benefit from this fast-growing sector which is supported by both macroeconomic and structural drivers.
'Investors will benefit from our in-depth knowledge of the logistics sector and the Eurozone Logistics Fund will add to the unique range of sector-dedicated strategies offered by BNP Paribas REIM business line,' concluded Romnicianu.
ELF is a SICAV-SIF based in Luxembourg, managed by BNP Paribas REIM Luxembourg, for institutional investors.
