Palmira launches third European core logistics property fund, with vol-ume of EUR 650 million

by   CIJ News iDesk III
2020-11-23   12:35
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Palmira Capital Partners (Palmira), a specialists in European logistics and industrial properties, has launched the “Palmira European Core Logistics Fund”. As an open-end special fund, the pan-European fund is oriented to institutional investors. Aiming at an equity volume of at least EUR 350 million, Palmira plans to invest around EUR 650 million and expects an annual distribution yield of 5%.

Palmira already has equity commitments totaling over EUR 100 million and, currently, three properties in Germany, the Netherlands and Poland are under investigation for acquisition. The fund’s investment focus is on forward-looking logistics assets in core locations on the major transport axes in continental Europe, supplemented by properties for urban last-mile deliveries in large conurbations.

Since 2017, Palmira has invested over EUR 1 bn in logistics and light industrial properties, which are managed by an in-house specialist team spread over nine offices in Europe. All the investment vehicles issued by Palmira have significantly exceeded their targets since they were launched.

Palmira Capital Partners
Palmira Capital Partners GmbH, based in Frankfurt am Main, is a leading independent specialist in logistics and corporate real estate. Its assets under management are currently diversified across six different countries. The company invests in modern logistics facilities, together with, or on behalf of, third party investors, and manages the properties entrusted to it through the entire value-added chain. Its interdisciplinary team of 40 specialist staff provides all the services of full-service management from a single source. The range of services extends from the conception of Investments, through fund and asset management, to day-to-day property management. Real estate assets currently under management have a total value of € 2.2 bn. Palmira has offices in seven European locations: Frankfurt am Main (head office), Vienna, Dusseldorf, Hamburg, Luxembourg, Madrid, Rotterdam and Warsaw.