Palmira launches EUR650m third European core logistics property fund
Palmira Capital Partners (Palmira), a specialist 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 EUR350 million, Palmira plans to invest around EUR650 million and expects an annual distribution yield of 5 per cent.
Palmira already has equity commitments totalling over EUR100 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.