Newport Logistics Fund, which invests in full-cycle industrial real estate development in Europe, is developing its second fund.
The Newport Logistics Fund II is looking to raise €100 mln to invest in the western part of the continent. The first project thus financed will be Panattoni Park Ennshafen in Upper Austria, with construction commencing in 2024.
The 42,000 m2 development will be built in an attractive location next to the city of Linz in the Ennshafen business park. It is expected to benefit from access to inland waterways via the Rhine-Main-Danube waterway and to the rail network via a container terminal, as well as its proximity to the B1 national road and the A1 West motorway.
The logistics and industrial space being developed within the park will occupy 42,000 m2, of which 3,000 m2 will be made up by offices and 3,000 sqm by mezzanines. In addition, companies will be able to rent even small modules of up to 3,000 m2, therefore creating an excellent development opportunity for small and medium-sized enterprises that operate in the region.
'Our experience to date confirms that Panattoni projects are worth investing in. It is a European market leader that carefully selects the locations of its parks in terms of business potential, and Upper Austria is a highly reputed region in this regard. Meanwhile, the high level of sustainable construction of the Ennshafen Park will allow companies to meet their climate goals,' said Szymon Ostrowski, managing director of the fund.
The project will receive DGNB certification at a Gold level. Extensive energy-saving measures will be implemented, including photovoltaic installations on the roofs of the facilities, as well as the use of facilities such as municipal heating systems or heat pumps. Green areas will be created on the site, and employees will be able to use bicycle infrastructure, electric vehicle charging stations and public transport.
The first Newport Logistics fund raised €50 mln in just 10 months from investors in Western Europe, the US and the UAE. The funds have already been fully invested in three projects, providing investors with a diversified portfolio of assets.
The debut project financed was a distribution centre in Zgierz, in central Poland, next to the A2 motorway, which connects cities such as Warsaw and Berlin. The investment includes two buildings with a total area of 33,500 m2.
The first shed has already been built and fully rented by logistics company DPD. The second project, in Almere near Amsterdam, will cover 23,400 m2. The latest development is right next to Heathrow Airport in London and it will cover 7,500 m2.
'The great success of the previous Fund makes us optimistic in the context of Newport Logistics Fund II, and the commencement of Panattoni Park confirms that we are not slowing down, especially since we are already planning our next investment in France,' added Ostrowski.
