GREYKITE European Real Estate Fund has acquired a portfolio of 13 logistics assets across Europe for €350m.
The assets, which offer 400,000 sq m of logistics space, are strategically located in dominant, well-connected logistics hubs, mainly across Germany, France and the UK.
The portfolio is 98% occupied, has significant reversion potential and is let to 20 high-quality, blue-chip tenants.
Following the formal launch of GREYKITE in March, this transaction is the third investment strategy for the fund and the second focused on logistics.
Michael Abel, founder and CEO of GREYKITE, said: “This is our third transaction since launching the fund earlier this year. We have now seeded a number of investment themes which will enable us to rapidly build a multi-billion euro portfolio, focused on high-conviction sectors supported by compelling structural and demographic fundamentals. Continued market dislocation is presenting a unique opportunity for investment firms like ourselves with the firepower and deal execution capabilities, and no legacy issues, to acquire high-quality assets and portfolios at attractive pricing.”
Dan Valenzano, senior partner at GREYKITE, added: “Our ability to act quickly enabled us to unlock this off market opportunity. In addition to the formation of our separate Polish logistics strategy, the fund has now built a significant exposure in the German, French and UK logistics sectors in a very short period of time.”
