Clarion Partners Europe, the real estate investment fund manager specialising in logistics and industrial assets, has secured new discretionary institutional capital commitments of €882 mln, creating additional acquisition capacity of up to €1.8 bn.
The capital has been raised globally, including from investors in North America, Europe, and Asia.
The Clarion Partners Europe team will seek to acquire and develop pan-European logistics assets, along with the broader expertise of US-based Clarion Partners, which owns a majority stake in the firm.
Alistair Calvert, CEO of Clarion Partners Europe, commented: 'The European logistics market is undergoing a rapid repricing fueled by rising interest rates. However, underlying occupier demand, the continued expansion of e-commerce and resulting rental growth all remain strong. We are well-positioned to benefit from these dynamics by scaling in an investment market that has less competition but strong tenant demand.
'We believe the investment case for logistics, given the recent repricing, is compelling on an absolute and relative basis and expect the changes in the structure of retail sales and in the supply chain will continue to further benefit the sector.'
Clarion Partners Europe targets investment opportunities in and around proven European cities and established core logistics markets where there is limited supply, frequently employing a develop-to-own strategy alongside acquiring stabilised assets.
Recent investments include newly built, sustainability certified, Grade-A logistics facilities in France, Netherlands, Germany and Spain, which are leased to a mix of national and international occupiers in the 3PL and aeronautical sectors.
Clarion Partners Europe invests across the spectrum, from ultra-urban last mile logistics to big-box, single-tenant warehouses, taking advantage of local market dynamics.
