​TH Real Estate launches €400m European logistics vehicle

TH Real Estate has launched a second European logistics vehicle with an initial €200m to invest in the sector.

The European Logistics Fund (ELOF), for the manager’s German clients, will seek low-risk assets.

The fund will hold a portfolio worth €400m, with gearing in France, Spain, the Netherlands and Italy.

TH Real Estate will aim to raise €250m for the fund by year-end, with €200m raised since marketing began in March.

Pension funds, insurance firms and banks have backed the vehicle.

Thorsten Kiel, head of logistics Europe for TH Real Estate, said: “This fund follows the success of our growing logistics platform.

“It offers a compelling investment opportunity given that logistics space requirements are increasing in developing countries to adapt to the growth of middle-class households.”

Launched last year, TH Real Estate’s €360m Pan-European Logistics Venture has invested in seven assets in France, Germany, the Netherlands and Spain.

The ELOF fund will be managed by Tim Hennes, senior investment manager for European logistics.