Greykite purchases €350m European logistics portfolio

This 13-property portfolio, spanning Germany, France, and the UK, is located in well-connected logistics hubs. It is 98% occupied by 20 blue-chip tenants like Kühne + Nagel, BSH Hausgeräte, Teva Pharmaceuticals, Iron Mountain and Ski Rossignol, and offers substantial future income growth potential.

The significant size of the acquired portfolio allows Greykite's fund to rapidly scale its operations, offering flexibility to either develop a broader logistics platform or manage the properties individually. The fund will initially collaborate with established local operators.

Michael Abel, founder and CEO of Greykite, commented: ‘This is our third transaction since launching the Fund earlier this year. We have now seeded a number of investment themes which will enable us to rapidly build a multi-billion euro portfolio, focused on high-conviction sectors supported by compelling structural and demographic fundamentals. Continued market dislocation is presenting a unique opportunity for investment firms like ourselves with the firepower and deal execution capabilities, and no legacy issues, to acquire high-quality assets and portfolios at attractive pricing.’

Dan Valenzano, senior partner of Greykite, added: ‘Our ability to act quickly enabled us to unlock this off market opportunity. In addition to the formation of our separate Polish logistics strategy, the Fund has now built a significant exposure in the German, French and UK logistics sectors in a very short period of time.’

This latest acquisition marks Greykite's third investment strategy since its March launch and its second in the logistics sector. Strong supply and demand dynamics, fueled by evolving consumer habits and ongoing supply chain issues promoting near-shoring, continue to drive growth in this market.

In addition to the Fund’s two major investments in the logistics sector, Greykite recently launched a £750 mln (€903 mln) Single Family Rental joint venture in the UK.