European logistics specialist Palmira Capital Partners said on Tuesday that it is joining forces with US-based Apollo Global Management's European Principal Finance III Fund (EPF III), to invest more than €1 bn in modern logistics facilities across Europe.
The joint partners have already invested €100 mln in four transactions in Germany over the last three months including assets in Bergkamen, Berlin (2) and Osnabrück.
Additional transactions in five countries with an aggregate value of more than €400 mln are currently in due diligence, the companies said. The joint venture focuses on core and future core assets in Germany, Benelux, Central and Eastern Europe, France and Iberia.
'The logistics market across Europe remains very strong with a constantly growing demand from occupiers,' commented Alexander Hoff, founder and managing partner of Palmira Capital Partners. 'We have long been looking for an experienced partner like Apollo to execute a pan-European logistics investment strategy.'
Sebastian-Dominik Jais, partner of Apollo European Principal Finance said, 'We are excited about this joint venture, as we believe the combination of Palmira’s outstanding operating capabilities and entrepreneurial spirit will allow us to drive strong performance for our respective investors.'
