GREYKITE European Real Estate Fund I has entered into a strategic partnership with Martley Capital Group to launch the UK division of its new Lagerhome multi-let industrial platform.
Simultaneously, the partnership has acquired an industrial estate in Milton Keynes for an undisclosed price (pictured), which offers asset management upside that will enable the fund to capture “significant” rental reversion.
GREYKITE launched Lagerhome last month with the purchase of a 94,000 sq m portfolio in Sweden. The fund has a strong pipeline across its key markets of Germany, Sweden and the UK, and is targeting €1bn of investment activity in the next 18-24 months.
Michael Abel, founder and CEO of GREYKITE, said: “This partnership emphasises our commitment to working with best-in-class, local operators to deliver scalable industrial platforms. Martley’s experience in the industrial sector makes them an ideal partner to support the next phase of Lagerhome’s growth. We have strong conviction in the UK industrial sector, where structural undersupply, resilient tenant demand, and supportive long-term fundamentals, coupled with ongoing market dislocation, continues to present compelling investment opportunities.”
Richard Croft, CEO of Martley Capital, added: “We are very excited to be working with GREYKITE to help build the Lagerhome platform across the UK and other jurisdictions in Western Europe. The GREYKITE team share our conviction in the sector, and we believe that this is a market leading partnership that will create a leading industrial investor over the next 18-24 months.”
