German investor Patrizia Immobilien has announced the launch of its first pan-European logistics real estate fund with a target volume of €500 mln.
The vehicle has already completed its first investment with the acquisition of a total of 13 assets in France, Belgium, The Netherlands and Germany.
The assets providing a total of 250,000 m2 were acquired in several transactions over the past few months for a total of around €200 mln, the company said.
Patrizia's Amsterdam team is responsible for the European logistics business.
'Looking forward, the logistics market in Europe still displays considerable growth potential in the coming years, as service providers and retail logistics are reconfiguring their supply chain networks to timely satisfy the growing demand in the e-commerce sector. Our customers can take part in this growth process as the recently acquired buildings are a mix of conventional or suburban distribution centres and urban or E-commerce facilities consists,' said Roger Peters, managing director of Patrizia Logistics Team.
The company said it has already committed equity to new acquisitions including a completely refurbished, modern distribution centre with 70,000 m2 at the Senart business region in greater Paris as well as a modern distribution and light manufacturing centre in the Northern Frankfurt am Main metropolitan region. The acquisitions add up to an investment volume of €50 mln.
