PGIM Real Estate has launched Omnidocks, a platform for ground-up logistics developments in Germany.
Omnidocks is part of PGIM Real Estate’s closed-ended value-add fund European Value Partners (EVP) II and has already acquired two assets and secured a pipeline of upcoming deals.
As an independent company within EVP II, Omnidocks focuses on logistics developments in and around Germany’s top seven cities (Berlin, Hamburg, Munich, Cologne, Frankfurt, Stuttgart and Düsseldorf), aiming to develop high-quality, newly built properties that meet the demands of tenants and investors in terms of location, efficiency and ESG, while offering maximum tenant flexibility.
Omnidocks has already acquired two development projects, one in Rodgau near Frankfurt, allowing for the construction of over 12,000 sqm of lettable space to be completed by the end of 2024, the second one in Castrop-Rauxel near Dortmund, targeting the development of an urban logistics project with a total of 8,500 sqm of lettable space.
Omnidocks is led by Georg Thomas, who has nearly 20 years of experience in logistics real estate, including 12 years as project developer, most recently as director, business development at Hillwood.
In 2023, PGIM Real Estate within EVP II launched Proxilog, an in-house platform for urban logistics investments in France. Establishing Omnidocks is another strategic step towards meeting the strong demand for high-quality logistics properties through providing in-house solutions in European growth markets, the company said in a statement.
Nabil Mabed, senior portfolio manager of European value-add strategy and head of France, Spain and Portugal, commented: 'We are convinced that the demand for high-quality logistics properties in attractive locations will remain structurally high in Europe over the next couple of years. Through creating targeted, independent development companies in growth markets — such as Omnidocks — we keep strengthening our market access, thereby creating potential for long-term alpha for our investors.'
