Panattoni has launched a new pan-European fund that will invest in modern, sustainable, income-producing logistics properties.
The Panattoni Income Fund, which has an open-ended, evergreen structure, is aiming to raise €300m of equity by 2026 and acquire €600m of assets, developed and managed by Panattoni.
Panattoni’s owners and management team will be co-investing in the fund, which will seek opportunities in countries where Panattoni operates, including Central and Eastern Europe, (particularly Poland), UK, Italy, Spain, Germany, Austria, the Netherlands and Scandinavia. It is being seeded with stabilised Panattoni-managed assets in Poland.
The fund’s advisory team is based in Poland and its managing director is Krzysztof Dudek (pictured), who will manage the operations, investment activity, portfolio and asset management, as well as fundraising and capital flows.
Dudek said: “This is an opportune time to be creating Panattoni’s first income fund. The post-Covid market correction has resulted in yields for industrial and logistics properties becoming more attractive. There has been a significant amount of capital waiting on the sidelines for repricing to settle and for more favourable financing conditions.
“The demand-supply dynamics in the sector continue to be very positive for investors. The potential for rental growth is underpinned by limited supply, stemming from land scarcity, regulatory barriers and rising construction costs, coupled with strong, sustained demand for logistics space, driven by e-commerce growth and new manufacturing.”
Daniel Raemy, a member of the advisory board at Panattoni Income Fund, added: “Investing in industrial and logistics properties offers a compelling opportunity and attractive long-term returns, bolstered by structural drivers. The market is currently experiencing a shortage of supply, coupled with a growing emphasis on ESG-compliant assets, which gives the fund a competitive edge through access to premium projects.”
